Ripio, a Latin American crypto exchange with more than 25 million users, has launched a new stablecoin pegged to the Argentine peso.
The token, called wARS, is now live on Ethereum, Coinbase’s Base and World Chain, reports local news outlet La Nacion.
The peso-backed token allows users to send and receive money around the world, anytime, without using banks or converting to US dollars. Its launch comes as Javier Milei’s government brought down inflation in the country from 292% last April to now stand at 31.8%.
Ripio says it plans to launch similar stablecoins for other Latin American currencies. It could eventually allow cross-border payments in local currencies throughout the region, something that today usually requires US 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 government bond and adds to the broader push toward bringing real-world assets like fiat currencies and securities onto blockchain rails.
