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

Ripio, a prominent Latin American crypto exchange, has introduced a new stablecoin named wARS, which is pegged to the Argentine peso. This innovative token is designed to enable users to send and receive money globally without relying on traditional banks or needing to convert to U.S. dollars. The launch of wARS is significant as it follows the release of a tokenized sovereign bond by Ripio and is part of the company's wider initiative to integrate real-world assets into blockchain systems. As Argentina grapples with inflation, this move could enhance cross-border payments within Latin America, facilitating transactions in local currencies. The recent reduction in Argentina's inflation rate from 292% last year to approximately 31.8% underscores the need for stable financial solutions. Ripio plans to develop similar stablecoins for other currencies in the region, further expanding its impact.

Source 🔗