Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply across all stablecoins
All 6 stablecoins combined
Share of total stablecoin supply
#60 of 98 issuers by supply
Share of non-USD stablecoin supply
of 74 non-USD stablecoins on the map
Stablecoins issued
median issuer: 1
Chains
read onchain, #16 of 98 issuers
Share of supply in lending
lower bound; below the median issuer (3.3%)
Founded / domicile
AR · Buenos Aires
Latin American fintech issuing wrapped local-currency coins for BRL, MXN, ARS, COP, CLP and PEN.
Ripio is a Latin American crypto company that says it has led crypto in the region since 2013. It reports more than 28 million users reached and a presence in eight countries: Argentina, Brazil, Colombia, Chile, Peru, Mexico, Uruguay and the United States. Its products include local-currency stablecoins, instant fiat ramps over local payment rails, and white-label crypto infrastructure for institutions covering custody, trading and stablecoin issuance.
Ripio operates through several legal entities. Its site names OTC Investment Solutions SA and Moonbird S.R.L. in Argentina, OTCIS LLC in the United States and Ripio Chile SpA.
Sources: Ripio, Ripio wFIAT
All 6 stablecoins Ripio issues, largest first.
| Coin | Peg | Backing | Onchain supply | Chains | Share |
|---|---|---|---|---|---|
| ARS | Cash & money-market | 14.8B WARS |      Polygon, Gnosis | 66% | |
| BRL | Cash & money-market | 17.8M WBRL | Polygon, Gnosis | 24% | |
| MXN | Cash & money-market | 12.4M WMXN |  Gnosis, Celo | 5% | |
| COP | Cash & money-market | 1.8B WCOP | Polygon, Gnosis | 4% | |
| CLP | Cash & money-market | 96.5M WCLP | Gnosis, Celo | 1% | |
| PEN | Cash & money-market | 142.6K WPEN | Gnosis, Celo | <1% |
Summed across all 6 stablecoins Ripio issues, each dollar counted once. WARS is 66.1% of the total. Over 30 days, DeFiLlama's circulating supply of these stablecoins changed +10.6%, against -3.1% for all stablecoins on the map.
Supply of every coin Ripio issues, summed by chain from DIA's own totalSupply() reads of the verified contracts. Each coin's tokens are converted to dollars at DIA's price for that coin, or split pro rata from its market figure where DIA has no price, so coins in different currencies can share one column. Wrapped coins are left out: their supply is already inside the coin they wrap. Each chain shows the same amount as the chain row on each coin's own page.
US$13.6M
Read on 7 chains, all in the total
Ethereum72%US$9.9M
Base15%US$2.0M
Celo7%US$921.8K
World Chain4%US$592.0K
BSC1%US$120.4K
Polygon1%US$69.1K
Gnosis<1%US$27.4KDeFiLlama circulating supply in USD, grouped by each stablecoin's peg currency. Coins DeFiLlama does not record are not counted.
Source: DeFiLlama circulating supply Updated
In DIA's latest read, all 6 stablecoins Ripio issues sit within 674 bps of their peg.
Today is DIA's latest daily read of each stablecoin's price against one unit of its peg currency, in basis points: 100 bps is 1% away from the peg, above (+) or below (-).
Typical daily move is the standard deviation of the daily gap between the price and the peg over the last 90 days. Largest move is the single day in the last 12 months furthest from the peg. Both come from daily closes at 00:00 UTC (DeFiLlama, with CoinGecko where DeFiLlama has no price) and match the figures on each stablecoin's own page.
WARS, WBRL, WMXN, WCOP, WCLP, WPEN are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That widens the 90-day and largest figures, so they are not comparable with the USD stablecoins' figures.
Attestation cadence is how often an independent accountant's report covers the reserves, where one is published. A stablecoin with none shown has no cadence published.
Stablecoins whose value rises by design, such as savings wrappers, have no peg figures. Their price is a yield curve, not a peg.
| Stablecoin | Today | 90d | Largest | Attestation |
|---|---|---|---|---|
| −674 bps (−6.74%) | 78 bps | −841 bps (−8.41%) | ||
| −34 bps (−0.34%) | 98 bps | +456 bps (+4.56%) | ||
| +137 bps (+1.37%) | 106 bps | +271 bps (+2.71%) | ||
| 0 bps (0.00%) | 142 bps | +413 bps (+4.13%) | ||
| +176 bps (+1.76%) | 195 bps | +707 bps (+7.07%) | None identified | |
| +137 bps (+1.37%) | 116 bps | +421 bps (+4.21%) | None identified |
US$304.3K supplied to 10 lending markets on 1 protocol, summed across all 6 stablecoins Ripio issues. That is 2.2% of their onchain supply; the median across 43 issuers in lending markets is 3.3%. Yield pools live on each stablecoin's own page.
Lower bound: the balance of every Ripio coin inside lending markets DIA reads onchain directly, summed. Coins that rebase or wrap another coin are left out, so the balance and the share count the same coins. The figure is gross: most of it is on loan, and borrowed stablecoins can be deposited again. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track.
Share of issued supply is that balance over the onchain supply of all the coins Ripio issues, a coin with no lending market included. Coins that rebase or wrap another coin are outside both sides: a rebasing balance moves by contract, and a wrapper's supply is already inside the coin it wraps.
Source: DIA's own reads of each lending contract. Balances, supply rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under US$1,000, or pinned at full utilisation with runaway interest is left out.
Supply APY and borrowed are averages weighted by each market's balance, over the markets that report them: 59% of the balance for the APY, 59% for borrowed. Borrowed is the share of supplied stablecoins now on loan.
US$304K
supplied to 10 lending markets on 1 protocol, from 1 of Ripio's 6 coins
37%
Borrowed
share of supplied stablecoins now on loan
3.73%
Average supply APY
weighted by the balance in each market
100%US$304KWorld ChainwARSUS$115KEthereumwARS / USDCUS$46K12.51%86%EthereumwARS / wstETHUS$44K<0.01%<1%EthereumwARS / sUSDSUS$33K2.59%74%EthereumwARS / WBTCUS$19K<0.01%<1%EthereumwARS / USDTUS$13K<0.01%<1%EthereumwARS / WETHUS$11K<0.01%<1%EthereumwARS / cbBTCUS$11K<0.01%<1%BasewARSUS$10KWorld ChainwARS / USDCUS$2K0.12%60%Ethereumin 7 lending markets58%US$177KWorld Chainin 2 lending markets38%US$117KBasein 1 lending market3%US$10KEach issuer's share is its stablecoins' combined balance in the lending markets DIA reads, over their combined onchain supply. Stablecoins that rebase or wrap another stablecoin are left out of both sides. It leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet, so every share is a lower bound measured the same way, and the ranking compares like with like.
The ranking counts the 43 issuers with any balance in those markets, highest share first. The median is the middle issuer of those 43.
2.2%
of issued supply sits in the lending markets DIA reads
Lower bound: leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet.
Below the median issuer (3.3%)
Registered with FinCEN as a money services business. An anti-money-laundering registration, not a licence.
Licences: Florida Money Transmitter Part II License FT230000427 (OTCIS LLC)
Registered with Argentina's Comisión Nacional de Valores as a virtual asset service provider.
Registered with the Banco Central de la República Argentina as a payment service provider.
Authorised by Mexico's Comisión Nacional Bancaria y de Valores, including as a money transmitter.
Regulator: Comisión Nacional Bancaria y de Valores (CNBV)
Registered with Colombia's Unidad de Información y Análisis Financiero as a virtual asset service provider.
Regulator: Unidad de Información y Análisis Financiero (UIAF)
Ripio states that each wFIAT token is backed by liquid instruments denominated in its reference currency, and that the tokens are not legal tender and not covered by deposit protection insurance. The white paper says new tokens are minted only on sufficient collateralisation, with reserves held in segregated accounts of the issuer's affiliated entities.
Ripio has published certifications by a Buenos Aires public accountant for wARS, wBRL, wCOP and wMXN as of 31 March 2026. Each reconciles the tokens issued with onchain mint and burn records, and the collateral with bank statements. They report 973,000,960.19 wARS against ARS 1,036,276,284, 719,448 wBRL against R$809,597.28, 104,898,654 wCOP against COP 107,966,549.02, and 518,689 wMXN against MXN 937,364.13. Each certification states that the engagement is not an audit or a review.
Ripio's two documents describe redemption differently. The wFIAT page, under "How it works", tells the customer to "Redeem whenever you want" by burning the token and receiving local currency in a bank account, after depositing local currency by bank transfer, PIX, SPEI or another local payment method. The wFIAT white paper, version 1.0 of October 2025, states that the tokens do not represent user deposits and are not e-money, that a token holder cannot claim any funds or obligations from the issuer, and that a holder could only sell the token in the market, with no redemption right. The white paper also states that the issuer burns tokens when it deems it necessary, such as when market liquidity is withdrawn.
Sources: Ripio wFIAT, wFIAT white paper, version 1.0, October 2025, wARS token certification, 31 March 2026, wBRL token certification, 31 March 2026, wCOP token certification, 31 March 2026, wMXN token certification, 31 March 2026
Ripio's site lists its regulatory status by country. In Argentina it states that it is registered with the CNV as a virtual asset service provider and with the UIF. The CNV register lists Moonbird SRL, with the website ripioapp.com.ar, as entry No. 36, registered on 5 June 2024. In Mexico it states that it is registered with the SAT as a virtual asset provider and with the CNBV as a money transmitter. In Colombia it is registered with the UIAF as a virtual asset service provider. In the United States, OTCIS LLC is a FinCEN money services business with Florida Money Transmitter Part II License FT230000427. For Brazil Ripio states compliance with current rules, and for Chile its homepage says a registration has been filed with the CMF under Law 21.521. Ripio's site footer states that the CNV registration of Moonbird SRL is for control by the UIF, Argentina's financial intelligence unit, and does not imply a licence from, or supervision by, the CNV.
Sources: Ripio, Ripio wFIAT, CNV PSAV register (legal persons)
Ripio's wFIAT line has six tokens, each designed to keep 1:1 parity with its reference currency: wARS (Argentine peso), wBRL (Brazilian real), wMXN (Mexican peso), wCOP (Colombian peso), wCLP (Chilean peso) and wPEN (Peruvian sol). Ripio's wFIAT page lists Ethereum, World Chain, Base, BNB Chain, Gnosis, Polygon and Celo for each token. The first mint, of wARS on World Chain, took place on 21 May 2025.
The wFIAT white paper of October 2025 says the tokens are issued by a Ripio group affiliate. It describes them as upgradeable ERC-20 contracts that can be paused, with minting limited to addresses holding a minter role.
Sources: Ripio wFIAT, wFIAT white paper, version 1.0, October 2025
A set of wrapped local currency tokens covering six Latin American currencies: the Argentine peso, Brazilian real, Mexican peso, Colombian peso, Chilean peso and Peruvian sol.
Ripio states that wFiat tokens are designed to maintain 1:1 parity with their reference currency and are backed by liquid instruments denominated in that currency. Ripio has published certifications for wARS, wBRL, wCOP and wMXN as of 31 March 2026, signed by a Buenos Aires public accountant.
This chart is DeFiLlama circulating supply. The headline figure above is mostly DIA’s onchain reads, with DeFiLlama where DIA does not read, so the last point can differ from it.
Source: DeFiLlama circulating supply Updated