Ripio Launches wARS Stablecoin Pegged to Argentine Peso
Ripio’s wARS launch comes amid reduced Argentine inflation, offering peso-pegged transfers on Ethereum, Base, and World Chain, with plans for other Latin American stablecoins.
ETH
Summary
Ripio, a Latin American cryptocurrency exchange, officially launched wARS, a stablecoin pegged to the Argentine peso, amid Argentina’s inflation rate falling from 292% to 31.8%. Deployed on Ethereum, Coinbase’s Base, and World Chain networks, wARS enables direct cross-border payments in pesos without bank intermediaries or U.S. dollar conversions. Ripio announced plans to develop similar stablecoins for other Latin American currencies to facilitate regional cross-border transactions.
Terms & Concepts
- Stablecoin: A cryptocurrency designed to maintain a stable value by pegging it to a reserve asset such as a fiat currency.