Ripio, a Latin American crypto exchange with over 25 million users, launched a new stablecoin pegged to the Argentine peso.
The token, called wARS, is now available on Ethereum, Coinbase’s Base, and local media outlet World Chain. The Nation reports.
The peso-backed token allows users to send and receive funds around the world, at any time, without using banks or converting them to US dollars. Its launch occurs at a time when Javier Milei’s government brought inflation in the country from 292% in April of last year to now standing at 31.8%.
Ripio says it plans to launch similar stablecoins for other Latin American currencies. That could eventually enable cross-border payments in local currency across the region, something that today typically requires U.S. dollars or expensive intermediaries.
Stablecoins are already popular in Argentina and Brazil, where inflation and strict currency controls push people to seek more stable stores of value.
The launch of wARS follows Ripio’s earlier launch of a tokenized version of a sovereign bond, and adds to the broader push to bring real-world assets like fiat currencies and securities to blockchain rails.
