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
Peg today
at 1 COP
Chains
Holders on Base
WCOP is a COP stablecoin issued by Ripio, launched on 20 Oct 2025.
WCOP is a Colombian peso 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 liquid instruments denominated in that currency.
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.
WCOP is deployed across multiple chains, including Ethereum, Base, Celo, Polygon, BNB Smart Chain and Gnosis. Ripio published the first attestation of WCOP collateral, completed and certified by an independent Argentine certified public accountant under Technical Resolution No. 37.
Sources: Ripio wFIAT, WCOP token certification, 31 March 2026, wFIAT whitepaper, version 1.0, October 2025
1.8B WCOP in circulation across 7 chains; Base carries 55.6%.
Source: DIA first-party onchain reads, the series the chart draws. Each figure is the change in the supply DIA reads across WCOP’s chains between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
1.8B WCOP (US$549.3K)
Base 55.6% · other chains 44.4%
Base974.5M WCOP · 55.6%
Ethereum481.6M WCOP · 27.5%
World Chain198.8M WCOP · 11.3%
Celo34.5M WCOP · 2.0%
BSC23.0M WCOP · 1.3%
Polygon22.0M WCOP · 1.3%
Gnosis19.3M WCOP · 1.1%Supply growth
Counted on Base. Excludes issuer treasuries, includes contracts. Shares are of the supply on Base less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
Source: DIA Transfer replay.
39holders on Base
| WCOP | |
|---|---|
| Top holder | 81.4% |
| Top 10 | 100.0% |
| Top 50 | 100.0% |
| Top 100 | 100.0% |
Excludes issuer treasuries, includes contracts. Shares are of the supply on Base less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
How far WCOP trades from its COP peg, from DIA's daily price reads.
Figures are in basis points: 100 bps = 1%.
Peg volatility is how much WCOP's price swings around 1 COP from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at 0.998 COP scores near zero. Largest deviation is the single day in the last 12 months furthest from 1 COP, signed.
The ranking counts every active COP 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 COP stablecoin, the largest deviation leaves out days when most other COP stablecoins closed the same distance from par on the same side: that move is the exchange rate, not WCOP. A move WCOP makes alone, or a discount it holds while the others stay at par, is kept.
142 bps
Peg volatility, 90 days
typical day-to-day swing around 1 COP
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
| 0 bps (0.00%) | 96 bps | 142 bps | +413 bps (+4.13%) |
WCOP is pegged to the Colombian peso, with a one to one design target stated by the issuer.
As a fiat-backed token, WCOP'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.
Ripio's wFIAT page describes a price feed for the suite: in March 2026 it announced the first Chainlink feed on Ethereum, starting with BRL/USD for the Brazilian leg. The page does not describe a dedicated COP feed for WCOP.
Sources: Ripio wFIAT
Where WCOP is supplied in DeFi lending markets, what it earns there and the DEX pools it trades in.
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
WCOP in pool is WCOP's own side of the pool, at its USD price. Pool liquidity counts both sides.
US$49.7K of WCOP sits in 2 DEX pools across 1 DEX.
| DEX | Pair | Chain | Pool liquidity | ▼WCOP in pool | 24h volume |
|---|---|---|---|---|---|
| wCOP / USDC | Base | US$37.5K | US$37.5K | US$33 | |
| wCOP / USDC | Base | US$31.9K | US$12.2K | US$1.2K |
WCOP 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, with wCOP as one of the local currency stablecoins. A success story on the page highlights the World App integration, in which local stablecoins are held one to one on chain and used for QR payments at merchants.
The token is deployed on Ethereum, World Chain, Base, Polygon, Celo, BNB Smart Chain and Gnosis, and Ripio operates a bridge for moving its stablecoins between blockchains.
Sources: Ripio wFIAT, Ripio wFIAT whitepaper
WCOP is designed to be backed by cash and money-market assets.
Ripio states on its wFIAT page that each token is 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 WCOP collateral, certified by an independent Argentine certified public accountant under Technical Resolution No. 37.
The attestation reports that as of 31 March 2026 there were 104,898,654 WCOP tokens issued. The collateral backing as of the same date is reported at 107,966,549.02 Colombian pesos, deposited in a Colombian bank account, per the bank statements as of 31 March 2026. The issuance and burn records are verified on chain across Ethereum, World Chain, Base, Polygon, Gnosis and BNB Smart Chain.
The reported collateral is above the 104,898,654 pesos that the 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, WCOP token certification, 31 March 2026
Base0x8a1d45e1…991e2d76paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76isBlocked(address)paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76isBlocked(address)paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76isBlocked(address)paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76isBlocked(address)paused()mint(address,uint256)eip1967-uups0x8a1d45e1…991e2d76paused()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 WCOP's issuer and how its reserves are reported.
For Colombia, Ripio's wFIAT page lists the group as a VASP subject to the UIAF.
Ripio is an Argentine fintech operating across Latin America. 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
WCOP's reserve disclosure rests on a single dated attestation rather than a running series. The first WCOP 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 Colombian 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, WCOP token certification, 31 March 2026, wFIAT whitepaper, version 1.0, October 2025
WCOP 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 WCOP attestation, completed and certified by an independent Argentine certified public accountant under Technical Resolution No. 37, reports 104,898,654 tokens issued as of 31 March 2026 against 107,966,549.02 Colombian pesos held in a Colombian bank account.
WCOP is deployed on Ethereum, World Chain, Base, Polygon, Celo, BNB Smart Chain and Gnosis. 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, Base Updated
Daily close against the COP peg, in basis points. Drag the handles under the chart to zoom; a range button resets it.
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