TechFlow news, Latin American crypto service provider Ripio has launched a dollar-pegged stablecoin, partly aimed at offering Argentinians a way to protect their assets from inflation.
Ripio users in Argentina are already able to purchase the UXD stablecoin (also known as Criptodólar), which is also available in Brazil and hosted on LaChain, a Latin America-focused Layer 1 blockchain launched by Ripio in June in partnership with SenseiNode, Num Finance, Cedalio, and Buenbit.
The company also plans to integrate UXD into its Ripio Card. Founded in Argentina, Ripio currently operates in Brazil, Uruguay, Colombia, Chile, Mexico, the United States, and Spain, and recently obtained approval to operate as a cryptocurrency exchange in these countries. The company serves 8 million users and processes $200 million in transactions monthly.
