The bill authorizes the province to issue the stablecoin up to 2% of its annual budget. It also stipulates that assets can be transferred between parties, but it does not specify which chain will be used for the transactions. The province of San Luis is home to over 430,000 people.

The stablecoin issuance is only one of the initiatives described in the bill called “Financial Innovation for Investment and Social Economic Development,” which aims to promote development in several sectors in the province through blockchain technology, including generating value and improving auditing procedures.