Ripio unveiled wARS, the Argentine Peso stablecoin, on Ethereum and Base, expanding digital payments and cross-border transfers across Latam.
Argentine crypto exchange Ripio unveiled its new digital peso stablecoin. The tool, called wARS, is essential in the Latam infrastructure growth. It wants to change both remittances and payments right now. Ripio assured LA NACION of this strategic move. The exchange will soon have other stablecoins in the local market. These will leverage blockchain technology for a number of novel applications.
Latam Stablecoin Adoption Accelerates with New Digital Peso
At the beginning, wARS is live on Ethereum and World Chain. It is even listed on the popular Base network on Coinbase. Specifically, Ethereum is often used in Decentralized Finance (DeFi). World Chain is the result of the work of the World/OpenAI co-founders. Also, Ripio said the new asset could be used for digital payments effectively.
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In addition, the asset supports instant physical QR payments. It makes cross-border transfers between companies easy. Individuals and financial institutions can make use of it as well. In addition, the asset can be leveraged for return-yielding purposes. Returns are generated in the broader ecosystem of cryptocurrency.
Therefore, tokenization enables local currency on the blockchain infrastructure. All day-to-day transactions can be digitized immediately. This eliminates the need to use the traditional banking system. Sedimentation takes place in seconds. Transparency is greatly enhanced for all users. Moreover, transfers and remittances are now processed quickly.
On top of that, the company intends to further develop this initiative in the near future. More stablecoins will be issued for other countries. In addition, this provides the opportunity for the direct transfer of value regionally.
Thus, a person in Brazil could transfer wARS in a matter of seconds. The money is paid straight to an Argentine recipient. This eliminates the expensive middle step. It avoids the problems of possible banking delays easily. In addition, this also provides instant remittance features.
Importantly, the stablecoin market volume had reached over $27 trillion in 2024. This was a book with more market share than Visa and Mastercard put together. These figures are from the World Economic Forum. Indeed, Latam is the world’s leading adopter of stablecoins. Argentina and Brazil have very high usage rates.
Ripio CEO Foresees New Standard for Digital Financial Ecosystem
Therefore, the CEO of Tiahuanaco, Sebastian Serrano, commended the launch very much. He said the asset was a milestone for Ripio. He confirmed that they are developing a new standard. This standard applies to remittance and payment of money. Services are directly run on blockchain technology. He said it operates in currencies that are familiar to millions.
Ultimately, this decision takes Ripio closer to Real-World Assets (RWA). This international movement is a trend that upsets traditional finance. It is a good representation of real assets on the blockchain. Bonds, shares, and fiat currencies are digitized. They want to be more efficient in their operation. The tokenized world also wants more transparency.
In short, this launch is a powerful regional event. Ripio is at the forefront of fiat on-chain integration locally. Moreover, the world is becoming more and more tokenized. Transparency of operations is immediately improved. This digital revolution is more efficient worldwide. This vision vows a quicker and borderless future.
