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FollowingLatin American encryption platform Ripio deploys a full set of wFIAT stablecoin suite to the Celo network
Latin American encryption platform Ripio has fully deployed its wFIAT stablecoin suite on the Celo network, realizing on-chain transactions of six local currencies without having to bear deposit and deposit fees. The measure covers the Argentine Peso (wARS), the Brazilian Real (wBRL), the Mexican Peso (wMXN), the Colombia Peso (wCOP), the Chilean Peso (wCLP) and the Peruvian Sol (wPEN).
Regional Complete Suite is now available on Celo
The wFIAT Suite contains six fully collateralized stablecoins anchored to Latin American local currencies, covering the Argentine peso, Brazilian real, Mexican peso, Colombia peso, Peruvian sol and Chilean peso. Each token is fully collateralized with its corresponding legal tender and backed by reserves held by regulated financial institutions.
This series of stablecoins will be launched in phases in 2025, first issuing wARS, wBRL, wMXN and wCOP, followed by adding wPEN and wCLP, ultimately forming a regional complete suite covering six currencies. This integration with Celo adds a new distribution layer to the wFIAT technology stack.
Currently, wARS and wBRL have been issued as ERC-20 assets on seven EVM-compatible networks including Ethereum, Base, World Chain, Polygon, BSC, Gnosis and Celo, and their collateral status is independently audited by local certified public accountants. The addition of the zero-cost gold channel on the Celo platform aims to remove the last obstacle to practical application in the region. The trading pool of peso and real against the US dollar has been opened on the first day of launch through foreign exchange network Textile, allowing users to immediately receive liquidity support.
Celo: Payment infrastructure in Latin America
Celo is an Ethereum-based EVM-compatible Layer 2 network that focuses on mobile-first payment scenarios. It enables account discovery by associating phone numbers with addresses and allows users to pay Gas fees using stablecoins or USDC instead of ETH. As of mid-2026, the total value of the network's lockups will reach approximately US$150 million, and its main activities will focus on remittance, payroll and savings products for Africa and Latin America.
According to platform data, Ripio's integration has expanded Celo's stablecoin ecosystem to 31 assets, benefiting more than 18 million holders. Ripio, once a pure retail platform, has transformed into a B2B infrastructure provider for the Latin American crypto ecosystem. While launching a series of local-currency stablecoins, it has also developed tokenized debt assets, aiming to incorporate more local economic activities into the chain.
Stabiloins anchored by local currencies rather than foreign monetary systems are seen as an effective way to promote long-term healthy regional economic development by strengthening the local monetary system. Free gold access for six local currencies has eliminated one of the most enduring friction points in the popularization of cryptocurrencies in Latin America. With the comprehensive coverage of remittance, B2B settlement and on-chain foreign exchange trading scenarios, the cooperation between Ripio and Celo has enabled the platforms of both parties to remain at the core of regional stablecoin ecological construction.
