Argentine exchange Ripio is focusing on local currency stablecoins and tokenized bonds, expecting a down year for crypto in 2026 but a boom for stablecoins. It offers stablecoins like Criptodólar (UXD) and local fiat-backed stablecoins, including wARS, wBRL, wMXN, and tokenized sovereign bond AL30. The CEO aims for $100 million in AUM by year-end.
Ripio’s local stablecoins are live on Ethereum mainnet, Base, and World Chain, with $200,000 in transaction volume for wARS in December 2025. The model pairs local stablecoins with virtual local bank accounts to simplify converting local currency without FX losses. CEO Serrano sees local stablecoins as key for DeFi lending.
Ripio’s CEO envisions local stablecoins as crucial for DeFi lending in countries like Argentina and Brazil to avoid FX risk for borrowers with local income. He believes local stablecoins are the missing building block for a shift towards borrowing in local currencies. The focus on stablecoins aligns with the growing trend in the industry.
In a turbulent domestic backdrop, Ripio’s strategy emphasizes stablecoins against a backdrop of regulatory challenges. Serrano praises President Milei’s macroeconomic policies but notes a lack of focus on crypto. Ripio’s B2B approach aims to provide infrastructure for multiple platforms, leveraging stablecoins’ growing prominence in the industry.
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