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

Ripio, a prominent Latin American crypto exchange with over 25 million users, has introduced a new stablecoin named wARS, which is directly pegged to the Argentine peso. This innovative token is now available on major platforms such as Ethereum, Coinbase's Base, and World Chain. Designed to facilitate global money transfers, wARS allows users to send and receive funds without relying on banks or converting to U.S. dollars. Its launch occurs in the context of inflation reduction in Argentina, where current inflation has dropped significantly from 292% to 31.8% over the past year. Furthermore, Ripio aims to roll out additional stablecoins for other Latin American currencies, enhancing the possibility of cross-border transactions in local currencies, which traditionally depend on U.S. dollars or costly intermediaries. The release of wARS follows Ripio's earlier successful launch of a tokenized sovereign bond, reinforcing its initiative to integrate real-world assets into blockchain technology.

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