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
6.4% of BRL stablecoin supply · 3rd of 5 BRL stablecoins with supply
Peg today
below 1 BRL
Chains
1st of 5 BRL stablecoins read on chain · median 4
Holders on Ethereum
WBRL is a BRL stablecoin issued by Ripio, launched on 10 Oct 2025.
WBRL is a Brazilian real stablecoin issued by Ripio as part of its wFIAT suite. Ripio describes wFiat tokens as designed to maintain one to one parity with their reference currency and backed by regulated liquid instruments.
Ripio operates wFIAT as an infrastructure layer for Latin American fintech, offering virtual accounts, local stablecoins and payments through a single integration. Ripio's wFIAT page states that a wFiat token is minted one to one when a customer deposits local currency, and that redemption works by burning the token and receiving local currency in a bank account. Ripio's wFIAT whitepaper states that a token holder cannot claim any funds or obligations from the issuer and has no redemption right.
WBRL is deployed across multiple chains, including Ethereum, Base, Polygon, BNB Smart Chain, Gnosis and Celo. Ripio published the first attestation of WBRL collateral, completed and certified by an independent Argentine certified public accountant under Technical Resolution No. 37. The engagement does not constitute an audit or a review.
Sources: Ripio wFIAT, WBRL token certification, 31 March 2026, wFIAT whitepaper, version 1.0, October 2025
17.8M WBRL in circulation across 7 chains; Ethereum carries 59.9%. That is 6.4% of the BRL stablecoin supply on the map, 3rd largest of 5.
Source: DIA first-party onchain reads, the series the chart draws. Each figure is the change in the supply DIA reads across WBRL’s chains between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Share and rank are against the combined supply of the 5 active BRL stablecoins on the map, each valued at DIA’s own read and price where DIA holds one and at DeFiLlama’s circulating figure otherwise. Wrappers are left out, as in every total on the map.
17.8M WBRL (US$3.3M)
6.4% of all BRL stablecoin supply, #3 of 5
Ethereum 59.9% · other chains 40.1%
Ethereum10.7M WBRL · 59.9%
Celo3.9M WBRL · 21.8%
Base2.3M WBRL · 12.7%
World Chain623.7K WBRL · 3.5%
BSC271.9K WBRL · 1.5%
Polygon76.1K WBRL · 0.4%
Gnosis33.0K WBRL · 0.2%Supply growth
Counted on Ethereum. Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
Source: Blockscout.
150holders on Ethereum
| WBRL | |
|---|---|
| Top holder | 58.3% |
| Top 10 | 93.9% |
| Top 50 | 94.0% |
| Top 100 | 94.0% |
Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
How far WBRL trades from its BRL peg, from DIA's daily price reads.
Figures are in basis points: 100 bps = 1%.
Peg volatility is how much WBRL's price swings around 1 BRL from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at 0.998 BRL scores near zero. Largest deviation is the single day in the last 12 months furthest from 1 BRL, signed.
The ranking counts every active BRL stablecoin with at least two daily prices in the last 90 days.
Prices are daily closes at 00:00 UTC, from DeFiLlama with CoinGecko where DeFiLlama has no price. The chart beside this panel plots those same daily closes, so every figure in the table can be found on a line here. DeFiLlama quoted rounded and filled prices until 30 September 2025, so for USDT and USDC the closes before 1 October 2025 are the median of exchange closes instead, and a filled US$1.0000 close is left out of the typical move and the largest move.
Stablecoins whose value rises by design, such as savings wrappers, are left out. Their price is a yield curve, not a peg.
Only USD stablecoins are compared. Other currencies are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That gap shows up as the same false depeg on every stablecoin of the currency at once.
For a BRL stablecoin, the largest deviation leaves out days when most other BRL stablecoins closed the same distance from par on the same side: that move is the exchange rate, not WBRL. A move WBRL makes alone, or a discount it holds while the others stay at par, is kept.
98 bps
Peg volatility, 90 days
typical day-to-day swing around 1 BRL
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
| −34 bps (−0.34%) | 124 bps | 98 bps | +456 bps (+4.56%) |
WBRL is pegged to the Brazilian real, with a one to one design target stated by the issuer.
Ripio announced on 26 March 2026 that it had integrated the first Chainlink price feed for wFIAT on Ethereum, starting with a BRL/USD feed. The announcement says the feed is intended to let DeFi protocols read the value of the underlying asset on chain.
As a fiat-backed token, WBRL's peg depends on the issuer maintaining the stated one to one backing and on the on-chain market trading near the reference currency's exchange rate. The issuer does not publish an automatic stabilisation mechanism for the token.
Sources: Ripio wFIAT
Where WBRL is supplied in DeFi lending markets, what it earns there and the DEX pools it trades in.
Top 3 WBRL pools by TVL with a quoted APY.
TVL is what is deposited in the pool. For lending pools, that is before loans are taken out.
| APY | Composition | 30d avg | Quality | Protocol | Chain | Rewards | ▼TVL | Type |
|---|---|---|---|---|---|---|---|---|
9.50%Rewards only | 9.50% | IncentiveIL riskStable | Ethereum | +9.50% | US$477.5K | LP | ||
3.77% | 1.17% | LP fees · IL riskVolatile | Ethereum | +0.00% | US$116.8K | LP | ||
1.31% | 1.24% | LP fees · IL riskStable | Base | +0.00% | US$116.5K | LP |
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
WBRL in pool is WBRL's own side of the pool, at its USD price. Pool liquidity counts both sides.
US$223.9K of WBRL sits in 4 DEX pools across 1 DEX.
| DEX | Pair | Chain | Pool liquidity | ▼WBRL in pool | 24h volume |
|---|---|---|---|---|---|
| wBRL / USDC | Ethereum | US$116.8K | US$95.9K | US$16.5K | |
| wBRL / USDC | Base | US$116.9K | US$94.4K | US$13.4K | |
| wBRL / USDC | Ethereum | US$25.7K | US$18.4K | US$402 | |
| wBRL / USDC | Base | US$20.3K | US$15.2K | US$380 |
WBRL is tradable on decentralized exchanges.
Ripio's wFIAT page describes the suite's uses across Latin America, including on and off ramps, payments and yield.
The token is deployed on Ethereum, World Chain, Base, Polygon, BNB Smart Chain, Gnosis and Celo, and Ripio operates a bridge for moving its stablecoins between blockchains.
Sources: Ripio wFIAT, Ripio wFIAT whitepaper
WBRL is designed to be backed by cash and money-market assets.
Ripio states on its wFIAT page that wFiat tokens are backed one to one by the reference currency and that the backing is held in regulated liquid instruments. Ripio has published the first attestation of WBRL collateral, certified by an independent Argentine certified public accountant under Technical Resolution No. 37. The engagement does not constitute an audit or a review.
The attestation reports that as of 31 March 2026 there were 719,448 WBRL tokens issued. It records issuance and burn reports available on chain on Ethereum, World Chain, Base, Gnosis, Polygon and BNB Smart Chain, together with the transaction ID listings for each issuance and burn as verified on the token's blockchain. The collateral backing as of the same date is reported at 809,597.28 Brazilian reais, deposited in a Brazilian bank account, per the bank statements as of 31 March 2026.
The reported collateral is above the 719,448 reais that 719,448 tokens represent at the one to one peg. The attestation is dated and covers a single point in time, and the wFIAT page does not publish a running reserve report series.
Sources: Ripio wFIAT, WBRL token certification, 31 March 2026
Ethereum0xd76f5faf…fe4390e0paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0isBlocked(address)paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0isBlocked(address)paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0isBlocked(address)paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0isBlocked(address)paused()mint(address,uint256)eip1967-uups0xd76f5faf…fe4390e0paused()mint(address,uint256)eip1967-uupsRead from the deployed contract and its account on each chain. A control with no row is one the read could not settle, which is not the same as absent. “No” appears only where the verified contract source lists every function, or where the chain records that the control cannot exist, such as a package published as immutable.
Contract can freeze · pause · mint · upgrade (proxy)
Who licenses WBRL's issuer and how its reserves are reported.
Ripio is an Argentine fintech operating across Latin America. Its wFIAT page lists regulatory standing in several jurisdictions, including registration as a Virtual Asset Service Provider with the CNV in Argentina, as a PSAV under the SAT and a money transmitter under the CNBV in Mexico, and as a VASP under the UIAF in Colombia, plus a money transmitter licence in the United States. The page also states that the group holds SOC 1 and SOC 2 Type II certifications.
For Brazil, the page states that the group complies with local regulations. The wFIAT page states that wFiat tokens are not legal tender and are not covered by deposit protection insurance.
Sources: Ripio wFIAT, Ripio terms and conditions
Registration onlylicence tier of Ripio
WBRL's reserve disclosure rests on a single dated attestation rather than a running series. The first WBRL attestation covers 31 March 2026, and the wFIAT page does not publish a continuous reserve report, so there is no public record of how the reserve has moved since that date.
The attestation relies on figures reported by the issuing entity and on bank statements, and the numbers are point in time. The collateral sits in a Brazilian bank account, so the reserve depends on that counterparty. The wFIAT page states that wFiat tokens are not legal tender and are not covered by deposit protection insurance. Ripio's wFIAT whitepaper states that a token holder cannot claim any funds or obligations from the issuer and has no redemption right.
Sources: Ripio wFIAT, WBRL token certification, 31 March 2026, wFIAT whitepaper, version 1.0, October 2025
WBRL is issued by Ripio, an Argentine fintech, as part of its wFIAT suite of local currency stablecoins.
Ripio states that each wFiat token is backed one to one by the reference currency. The first WBRL attestation, completed and certified by an independent Argentine certified public accountant under Technical Resolution No. 37, reports 719,448 tokens issued as of 31 March 2026 against 809,597.28 Brazilian reais held in a Brazilian bank account. The engagement does not constitute an audit or a review.
WBRL is deployed on Ethereum, World Chain, Base, Polygon, BNB Smart Chain, Gnosis and Celo. Ripio also operates a bridge for moving its stablecoins between blockchains.
12 days are left blank: chain coverage changed or a contract read failed, so those totals are not comparable.
Source: DIA onchain reads Updated
Source: DIA rebuild from onchain transfer history (to 11 Aug 2026), Block explorer holder counts (from 12 Aug 2026), Ethereum Updated
Daily close against the BRL peg, in basis points. Drag the handles under the chart to zoom; a range button resets it. The axis spans -400 bps to +400 bps, set by the middle 98% of the closes in view, so one outlier does not flatten the rest. 2 closes sit beyond it, drawn on the edge with a triangle. The tooltip shows the true value.
The dotted vertical lines mark market stress events: days the whole market, or a stablecoin others hold as collateral, came under stress. Seeing every stablecoin on the same shock shows how each peg held. Only events with a published source are marked. Each entry under the chart shows every stablecoin's worst daily close within 3 days of the event.
Crypto sold off with global markets as Covid spread, ETH lost close to half its price, and a congested Ethereum let bidders win MakerDAO collateral auctions for zero DAI.
Bitcoin fell as much as 30% to about $30,000 after Chinese industry bodies warned banks off crypto, and more than $8 billion of positions were liquidated.
Terra's algorithmic stablecoin UST fell to about $0.65 as LUNA slid, the start of a run that wiped out both within days.
Tether's USDT fell to about 95 cents on some exchanges as UST collapsed, and recovered after Tether processed more than $3 billion of redemptions.
Crypto lender Celsius paused withdrawals citing extreme market conditions, as the discount of stETH to ETH reached a record 8%.
FTX halted customer withdrawals after about $6 billion left the exchange in 72 hours, and filed for bankruptcy days later.
Circle disclosed $3.3 billion of USDC reserves held at the failed Silicon Valley Bank, and USDC traded as low as $0.87 intraday, closed 11 March near $0.96 (the low a daily-close chart shows) and regained its peg on 13 March.
A reentrancy bug in old Vyper compiler versions let attackers drain over $70 million from Curve pools run by JPEG'd, Metronome and Alchemix.
A Bank of Japan rate rise set off an unwind of yen carry trades, and bitcoin fell to about $49,000 as crypto futures saw over $1 billion of liquidations.
North Korea's Lazarus Group took about $1.5 billion of ETH and stETH from Bybit's cold wallet, and the exchange saw over $4 billion of withdrawals.
Sweeping US tariffs on trading partners set off a global selloff, and bitcoin fell to about $74,500.
A 100% US tariff threat on Chinese imports set off the largest liquidation in crypto history, over $19 billion in a day, and USDe traded as low as $0.65 on Binance.
An attacker drained about $128 million from Balancer V2 pools on six chains through a rounding error in the pool maths.
Stream Finance disclosed a $93 million loss by an external fund manager and froze withdrawals, and its xUSD fell as low as $0.25.
Stables Labs' synthetic dollar USDX fell below $0.60 as redemptions ran ahead of its hedged positions, and lending markets that took it as collateral froze.
Bitcoin fell below $80,000 over a thin-liquidity weekend amid US and Iran tensions, liquidating about $2.5 billion of long positions in a day.
Bitcoin dropped more than 10% in a day to about $63,000, its worst one-day fall since the FTX collapse, as silver, software stocks and US indexes fell with it.
An attacker with a compromised minting key created about 80 million unbacked USR and sold them for roughly $25 million, and USR fell below $0.30.
A forged LayerZero message released 116,500 unbacked rsETH, about $292 million, and Aave, Spark and Fluid froze rsETH markets.
An attacker took over StablR's 1-of-3 minting multisig and minted about $13.5 million of unbacked USDR and EURR, and the issuer froze both coins.
Bitcoin slid below $62,000 on higher-for-longer rate bets and ETF outflows, and about $3 billion of leveraged positions were liquidated over two days.
Source: DeFiLlama and CoinGecko prices Updated