After 134 years in circulation, the peseta (the currency of Spain between 1868 and 2002) gave way to the euro, but the Bank of Spain stopped accepting them in exchange for the European currency just a few months ago. In fact, it disappeared later than expected, since the Government extended the deadline for exchanging them for euros by six months, as a consequence of the coronavirus pandemic.
La Peseta Digital was created less than a month later and it has already been picked up by two of the world’s most-referenced price-tracking websites for crypto assets, CoinMarketCap and Coingecko.
According to the Peseta Digital website, “Thanks to blockchain technology, we now have the best Peseta ever. With fixed emission and with the possibility to make national and international transactions 24 hours a day, 365 days a year, fast and free.”
The Peseta was launched on January 6, 2014. At first, it was called Pesetacoin, adapting to the names adopted by currencies during those years. Later, in 2021, it was renamed Peseta Digital to reflect that it is a Spanish currency.
The maximum amount of Pesetas to be issued is due to the exchange rate that the Peseta had when the Spanish population adopted the Euro, which was 166.386 Pesetas for each Euro. Peseta Digital has an issuance policy similar to Bitcoin: a higher issuance of coins at the beginning to encourage its adoption and gradually reducing it in order to reduce inflation as adoption progresses to reach the end of issuance by 2029.According to CoinMarketCap, the Peseta Digital price at the time of writing this article was US$0,000957 with a 24-hour trading volume of US$2,27. Its current CoinMarketCap ranking is number 2396, with a live market cap of US$138.471. It has a circulating supply of 144.675.034 PTD coins and the maximum supply is not available.