Latin American Crypto Exchange Ripio Launches Argentine Peso Stablecoin 'wARS'

Latin American crypto exchange Ripio, which serves over 25 million users, has introduced a new stablecoin named wARS, pegged to the Argentine peso. The token is currently live on the Ethereum, Coinbase's Base, and World Chain networks. This peso-backed token aims to facilitate global fund transfers anytime without requiring traditional banking or conversion to U.S. dollars, especially relevant amid Argentina's fluctuating inflation rates. Ripio intends to launch similar stablecoins for other Latin American currencies to enable cross-border payments in local money across the region, bypassing the current reliance on USD or expensive intermediaries. This move aligns with Ripio's broader strategy of tokenizing real-world assets, following their previous release of a tokenized sovereign bond.

(Source：CoinDesk)