Ripio, a Latin American crypto exchange with more than 25 million users, has launched a new StableCoin pegged to the Argentine peso.
The token, called Wars, now lives on Ethereum, based on Coinbase, and the world’s chain, local news outlet The country report.
The peso-backed token allows users to send and receive funds worldwide, at any time, without using banks or converting to US dollars. Its launch came as the government of Javier Milei was brought in inflation in the country down from 292% in April last year to now stand at 31.8%.
Ripio said it plans to launch similar StableCoins for other Latin American currencies. That could allow cross-border payments in local currency throughout the region, something that now typically requires US dollars or costly intermediaries.
Stablecoins are already popular in Argentina and Brazil, where inflation and tight currency controls are driving people to seek more stable stores of value.
The launch of Wars follows Ripio’s earlier release of a tokenized version of a sovereign bond, and adds to a broader push toward bringing real-world assets like fiat currencies and securities onto blockchain rails.
