Our name was taken from the currency ‘8 Reales’. The Real of 8, Piece of Eight (peso de a ocho) or Spanish dollar was a silver coin worth eight reales coined by the Catholic monarchy after the currency reform of 1497, which established the Spanish real.

Thanks to its extensive use in the late eighteenth century in Europe, the Americas and the East, it became the first currency of worldwide use.

 It was the first legal currency in the United States until 1857, when a law overruled its use. Nowadays, many currencies like the Canadian dollar, the US dollar, the Chinese yuan as well as Latin American currencies and the Philippines are based on the Real of 8.