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The stablecoin with a 1:1 peg to the Colombian peso, COPW, issued by Wenia, which is the cryptocurrency arm of Grupo Bancolombia, is now a "more transparent" asset, after it received the backstop from the company Chainlink.
According to an announcement released on Thursday, July 25th, Wenia began operating using Chainlink Proof of Reserve (PoR), one of the company's products, "to provide end-to-end transparency to the Colombian peso reserves that back COPW".
This indicates that COPW users now have access to the Stable Cryptocurrency Reserve Proof. This information is available on the Chainlink chain. According to Wenia, this 'improves visibility of the reserves' that provide backstop to the Colombian stablecoin.
According to the explanation, Chainlink PoR is now integrated into the coin issuance function of the stablecoin COPW. That is, in the issuance process of this digital coin, which is carried out by Wenia.