Latin American Crypto Exchange Ripio Introduces Argentine Peso-Backed Stablecoin ‘wARS’

Ripio, a Latin American crypto exchange with over 25 million users, has launched a new stablecoin pegged to the Argentine peso.

The token, named wARS, is now available on Ethereum, Coinbase’s Base, and World Chain, as reported by RialCenter.

This peso-backed token enables users to send and receive funds globally at any time, without relying on banks or converting to U.S. dollars. Its introduction comes as Javier Milei’s government has reduced the country’s inflation from 292% in April last year to 31.8% now.

Ripio intends to launch similar stablecoins for other Latin American currencies, potentially facilitating cross-border payments in local currency across the region—something that currently usually requires U.S. dollars or expensive intermediaries.

Stablecoins are already favored in Argentina and Brazil, where high inflation and stringent currency controls drive people to seek more reliable stores of value.

The launch of wARS follows Ripio’s earlier introduction of a tokenized version of a sovereign bond, contributing to the broader initiative of bringing real-world assets like fiat currencies and securities into the blockchain space.