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

Ripio, a leading Latin American crypto exchange, has introduced a new stablecoin, wARS, pegged to the Argentine peso. This development enables users to send and receive funds globally without relying on traditional banks or converting currencies to U.S. dollars. With over 25 million users, Ripio aims to facilitate cross-border payments in local currencies across Latin America, reducing dependence on costly intermediaries. The launch coincides with the Argentine government's efforts to control inflation, which has been reduced from 292% in April last year to 31.8% now. This initiative follows the release of a tokenized sovereign bond by Ripio, emphasizing the company's commitment to integrating real-world assets into blockchain systems. The wARS token is now available on Ethereum, Coinbase's Base, and World Chain, and Ripio plans to explore similar stablecoin options for other Latin American currencies as part of their broader strategy to enhance regional financial accessibility.

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