wFIAT (Stablecoins Locales by Ripio)
About
wFIAT is a suite of fully collateralized stablecoins (wARS, wBRL, wMXN, wCOP, wCLP, wPEN) pegged 1:1 to major Latin American fiat currencies, issued by a Ripio group affiliate. Built as standard ERC-20 tokens deployed on Ethereum, Worldchain, Base, BNB Chain, Gnosis, and Polygon, they enable on-chain payments, remittances, DeFi integration, and fiat on/off-ramps for individuals and businesses across the region.
Where Does Yield Come From?
wFIAT tokens themselves do not earn yield on their own — they are simple stablecoins (digital dollars, pesos, etc.) that hold their value but don't grow.
But if you use the Ripio app, you can deposit your wFIAT tokens (like wARS or wBRL) into outside lending apps that the app connects to. These are mainly CapyFi, and also Aave for dollar-linked coins.
How the yield happens:
- Your deposited tokens get lent out to borrowers, who pay interest.
- That interest flows back to you as automatic daily rewards, paid in the same type of token you deposited.
- The interest rate goes up and down depending on how many people want to borrow vs. how many tokens are available to lend.
No extra fees or lock-ups:
- Ripio does not charge extra for this lending feature (you only pay the usual blockchain network fees, called "gas").
- There is no lock-up period — you can deposit or withdraw your funds anytime.
wFIAT can also be used as collateral — inside CapyFi, you can put up your wFIAT tokens as a guarantee to borrow other assets. The first loan using wARS as collateral was done in December 2025.
What does NOT exist: There are no special wFIAT-only rewards or staking payouts. No protocol is handing out free tokens to wFIAT holders.
Persons
Sebastián Serrano
Co-founder & CEO
Mugur Marculescu
Co-founder & Chief Innovation Officer
Juan Méndez
Chief Marketing Officer
Antonio Ceraso
Chief Technology Officer
Bernardo Teixeira
Chief Operating Officer
Leandro Gattoni
Chief Financial Officer
Alejandro Rothamel
Chief Legal & Compliance Officer
Matías Dajcz
Executive Officer de Ripio US. Investor Relations
Andres Fleischer
Chief of Staff
Constanza Aguero Ingravidi
Chief People Officer
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
SmartGuard18-06-2025 |
| The SmartGuard audit found 3 high-severity and 6 medium-severity issues in the wFIAT contracts, primarily around timestamp-based minting limits, reentrancy, and external dependency risks, which should be addressed before production use. The overall residual risk is moderate and concentrated in the LimitedMinter contract's time-bound minting controls. |
| This is a financial attestation of collateral backing, not a security audit — it verifies that wARS tokens are fully reserved in Argentine pesos as of the reporting date, but provides no assessment of smart-contract risk, code correctness, or on-chain security. |
Legal
Legal form
Not explicitly disclosed per token — "a Ripio group affiliate" (whitepaper). Ripio group entities include S.R.L. (Argentina), S.A. (Argentina), S.A.S. (Colombia), SpA (Chile), S.A. de C.V. (México), LLC (USA), SL (Spain), Ltda. (Brazil), and SAU (Argentina), but the specific issuing entity for wFIAT is not named.
Registration jurisdiction
Not explicitly disclosed per token. The whitepaper states wFIAT is "issued by a Ripio group affiliate" without specifying jurisdiction. The collateral attestation for wARS references an Argentine bank account (Banco de Comercio) and an Argentine CPA, suggesting the issuing affiliate may be Argentine, but this is not confirmed as the official jurisdiction of the issuer entity.
Status and notes
Operator behind wFIAT is Ripio group. The whitepaper explicitly states: wFIAT tokens are "not e-money in any jurisdiction" and a token holder "cannot claim any funds or any obligations from the issuer (a token holder could only sell the token in the market — there is no 'redemption' right)." Terms and conditions available at terms.ripio.com with country-specific pages for AR, BR, MX, UY, CO, ES, US, CL. Privacy policies, license information, and consumer defense terms linked from the footer. The whitepaper and stablecoins page reference a collateral attestation by an Argentine CPA confirming wARS reserves are held at Banco de Comercio (Argentina).