Ripio, a Latin American crypto exchange with over 25 million users, has launched a new stablecoin pegged to the Argentine peso.
The token, called wARS, is now available on Ethereum, the basis of Coinbase and World Chain, local media outlet La Nacion reports.
The peso-backed token allows users to send and receive funds globally, at any time, without using a bank or converting to US dollars. Its launch comes as Javier Milei’s government brought inflation in the country down from 292% in April last year to 31.8% today.
Ripio announces plans to launch similar stablecoins for other Latin American currencies. This could eventually enable cross-border local currency payments across the region, which today typically requires U.S. dollars or expensive intermediaries.
Stablecoins are already popular in Argentina and Brazil, where inflation and tight currency controls are pushing people to seek more stable stores of value.
The launch of wARS follows Ripio’s earlier release of a tokenized version of a sovereign bond and adds to the broader push to bring real-world assets such as fiat currencies and securities onto the blockchain rails.
