Lipio said wARS, the Argentine peso stablecoin, will be available on Ethereum, WorldChain, and Base as a key element to expand the exchange's infrastructure in Latin America. It states that additional local stablecoins will be launched to support several use cases using blockchain technology.
Lipio debuts digital peso in Argentina, plans to roll out local currency stablecoins in Latin America
fact
Lipio, one of Argentina's leading exchanges with over 25 million users, has launched its first digital peso stablecoin as part of its strategy to expand across Latin America. The company explained that wARS, an Argentine peso stablecoin, is backed 1:1 with the Argentine peso, bypassing banking network restrictions and allowing the currency to be traded 24/7.
wARS is already available on Ethereum, WorldChain, and Base, and aims to digitize and automate transactions without going through Argentina's banking network, and to manage payments, remittances, and even B2B payments.
Furthermore, these use cases are likely to expand as the exchange plans to continue issuing stablecoins in Latin American countries to simplify remittances and currency conversion.
Ripio co-founder and CEO Sebastian Serrano described this development as a milestone not only for the company but for the entire digital financial ecosystem in Latin America.
“We are creating a new standard for payments, transfers and services on blockchain, using currencies that are part of the daily lives of millions of people,” he concluded.
Why is it relevant?
The launch of a local stablecoin ecosystem in Latin America enables many use cases to simplify remittances and international payments, putting Lipio in a privileged position for service users seeking this functionality.
For example, someone in Brazil could use Lipio's future real stablecoin to send money to Argentina. The platform automatically manages the exchange and the recipient receives digital pesos.
Additionally, this also reduces dependence on US-based stablecoins. Stablecoins may be subject to different compliance regimes, which may impact their ease of use in Latin America.
I'm looking forward to it
Local news outlets have commented that this move could mark the beginning of a regional 100% digital system based on stablecoins, where every country can manage its own stablecoins. Additionally, it could potentially connect to systems like the one being developed in Venezuela.
FAQ
What is Ripio's new digital stablecoin called?
Ripio has launched wARS, the first digital peso stablecoin backed 1:1 with the Argentine peso, designed to power its operations across Latin America.What benefits does wARS bring to users?
wARS allows for 24/7 trading, allowing users to conduct transactions without being restricted by traditional banking networks.What platforms is wars available on?
Stablecoins are currently available on Ethereum, WorldChain, and Base to facilitate automated transactions for payments, remittances, and B2B payments.What potential impact does this launch have on the region's financial ecosystem?
The introduction of local stablecoins like wARS has the potential to simplify international payments and remittances in Latin America, reduce reliance on US-based stablecoins, and support a more integrated digital financial system.
