Latin American crypto services provider Ripio has launched a dollar-pegged stablecoin UXD, also known as Criptodólar, in part to give Argentines a way to protect their assets from inflation.
Ripio users in Argentina, a country with an annual inflation rate of up to 115 percent, have been able to purchase the UXD stablecoin, the company said.
The stablecoin, also available in Brazil, is hosted on LaChain, a Latin America-focused layer-1 blockchain that Ripio launched in June in partnership with SenseiNode, Num Finance, Cedalio and Buenbit, among others.