Share this article
Latin American Crypto Company Ripio Launches U.S. Dollar-Pegged Stablecoin
The cryptocurrency is hosted on LaChain, a recently started blockchain focused on the region.
Updated Aug 16, 2023, 3:18 p.m. Published Aug 3, 2023, 3:41 p.m.
Latin American crypto services provider Ripio has introduced a stablecoin pegged to the U.S. dollar, in part to offer Argentinians a way of protecting their assets from inflation.
Ripio users in Argentina, where annual inflation is running at 115%, are already able to purchase the UXD stablecoin, also called Criptodólar, the company said Thursday. The stablecoin, which is also available in Brazil, is hosted on LaChain, a Latin America-focused layer 1 blockchain launched in June by Ripio in collaboration with SenseiNode, Num Finance, Cedalio and Buenbit, among others.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In June, Ripio CEO Sebastian Serrano told CoinDeskTV that despite the bearish crypto context, the use of stablecoins in Latin America is growing and becoming more common.
“In response to the complex economic situation facing Latin America, in particular Argentina, we have created Criptodólar: an innovative solution to help individuals combat inflation and protect their assets,” Serrano said in a statement, adding that the company plans to incorporate UXD to its Ripio Card.
Ripio was founded in Argentina and also now operates in Brazil, Uruguay, Colombia, Chile, Mexico, the U.S. and Spain, where it recently obtained approval to operate as a crypto exchange. The company has 8 million users and transacts $200 million a month.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
