Ripio launches peso-pegged stablecoin “wARS” on Ethereum, Base and World Chain — aims to build Latin-American multi-currency rails
Latin American crypto exchange Ripio — with more than 25 million users across the region — has introduced a new stablecoin, wARS, pegged 1:1 to the Argentine peso. The token is now live on the Ethereum chain, Base (Coinbase’s Layer-2) and World Chain, enabling users to send and receive funds globally without relying on banks or converting to U.S. dollars. Ripio also announced plans to roll out similar stablecoins pegged to other Latin American currencies, signalling a push toward regional cross-border payments infrastructure.
What wARS offers
- wARS is backed by the Argentine peso and designed to function as a programmable, transferable token enabling remittances, payments and capital flows across borders denominated in ARS rather than USD.
- By launching on multiple networks (Ethereum, Base and World Chain), Ripio seeks to maximise liquidity, interoperability, and user-access across both mainstream and Layer 2 environments.
- Ripio’s stated vision: create a Latin-American stablecoin stack — first the peso-pegged wARS, then similar tokens for other regional currencies — thereby enabling a multi-currency “Internet money” network across Latin America.
- The move builds on Ripio’s earlier real-world-asset (RWA) efforts (e.g., tokenised sovereign bonds) and reflects the company’s ambition to bridge crypto infrastructure with everyday Latin-American finance.
Why this matters
- Remittances & currency controls: Many Latin-American economies experience inflation, currency controls and high remittance costs. A peso-pegged token offers an alternative rail for peer-to-peer or business-to-business transfers denominated in local currency rather than USD.
- USD-dominance challenge: Most existing stablecoins (like USDT/USDC) are dollar-denominated. wARS demonstrates a model where local-currency stablecoins can bypass USD rails and reduce conversion/exchange friction.
- Regional tokenisation push: By announcing the intention to issue stablecoins pegged to other local currencies, Ripio is positioning itself as a backbone for regional digital-payment infrastructure rather than a one-off token launch.
- Blockchain network choice: Launching on multiple chains including Base gives the project broader access and lowers transaction costs — beneficial in remittance-heavy markets.
Risks & things to consider
- Backing and reserves transparency: As with any stablecoin backed by local-currency assets, users will seek assurance that pegged tokens are fully collateralised, audited and redeemable.
- Regulatory oversight: Issuing a stablecoin pegged to a local currency implicates payments regulation, securities law (if classification uncertain), and oversight by central banks — especially in inflation-crippled economies.
- Currency-peg sustainability: The Argentine peso has experienced volatility and inflation; maintaining a stable peg may require active reserve management, which could be challenged in adverse economic conditions.
- Adoption hurdle: While the concept is compelling, real-world usage by remitters, businesses and cross-border corridors will determine whether the token gains traction beyond speculative use.
- Chain execution risk: Multi-chain launch (Ethereum, Base, World Chain) may raise smart-contract, interoperability or user-experience issues; wallets, on-ramps and user flows will be critical.
What to watch next
- Stablecoin rollout for other currencies: Will Ripio announce tokens pegged to Brazilian real, Colombian peso, Mexican peso or Chilean peso? Tracking the roadmap will indicate how ambitious the “regional stack” is.
- Reserve disclosures and audits: Watch for public reporting on backing reserves, redemption mechanisms and audit engagements — key for trust building.
- Partnerships & remittance use-cases: Whether Ripio secures business-to-business or corridor-remittance partners (e.g., Latin-American fintechs) to adopt wARS for payments.
- Regulatory responses: Responses from the Argentine central bank, regional regulators or global stable-coin oversight bodies to a peso-pegged token launching across chains.
- Token-flow metrics: How much volume, user adoption, cross-border transfers and wallet usage wARS generates in initial months, and how it compares to USD-stablecoin usage in the region.
Bottom line
With the launch of wARS, Ripio is making a strategic bet: that local-currency stablecoins can succeed in Latin America where USD-based rails dominate, and that a multi-chain, multi-currency blockchain infrastructure can meet regional cross-border payment needs more efficiently. The model is promising — but its success will depend heavily on collateral integrity, regulatory clarity and real-world utility rather than just token launch momentum.
MKTNBKSL
