Latin American crypto exchange Ripio, with over 25 million users, has launched wARS, a stablecoin pegged to the Argentine peso. The token is live on Ethereum, Base, and World Chain, enabling global transfers without banks or USD conversion. Ripio plans to issue similar stablecoins for other Latin American currencies to boost regional cross-border payments.https://t.co/zAcAtP3BsP ...

Core Insights - Ripio, a prominent Latin American crypto exchange with over 25 million users, has launched a new stablecoin called wARS, which is pegged to the Argentine peso [1] - The launch of wARS enables users to send and receive funds globally without relying on banks or converting to U.S. dollars, coinciding with a significant reduction in Argentina's inflation rate from 292% in April of the previous year to 31.8% currently [2] Company Developments - Ripio plans to introduce similar stablecoins for other Latin American currencies, potentially facilitating cross-border payments in local currencies, which currently often necessitate U.S. dollars or expensive intermediaries [3] - The introduction of wARS follows Ripio's earlier release of a tokenized version of a sovereign bond, contributing to the trend of integrating real-world assets like fiat currencies and securities into blockchain technology [4] Industry Trends - Stablecoins are gaining traction in Argentina and Brazil, driven by high inflation and stringent currency controls that compel individuals to seek more stable forms of value [3]