Profile
wMXN profile facts
Ripio wMXN (wMXN) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Mexican Peso.
- Collateral
- Mexican-peso fiat cash deposited in a Mexican bank account, backing Ripio wMXN one-to-one against the Mexican peso per Ripio's wFIAT token certification
- Peg mechanism
- Issuer-controlled wFIAT token: the Ripio affiliate mints WMXN against local Mexican-peso reserves and burns supply as needed, targeting 1 WMXN = 1 MXN through available on/off-ramp conversion and DEX arbitrage. The wFIAT whitepaper expressly denies token holders any issuer redemption right or claim to funds.
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- Agreed-Upon Procedures by Pablo Eduardo Soto, partner at SLD y Asociados S.A. (certification under Argentine Technical Resolution 37 Section VI; the document states it does not constitute an audit or a review and expresses no professional opinion) Reserve source
- Contracts
- 10 deployments tracked across Ethereum, Base, World Chain, and BSC, plus 6 more.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
wMXN quick answers
5
What is Ripio wMXN (wMXN)?
WMXN is Ripio's reserve-backed Mexican-peso stablecoin; holders have no issuer redemption right and exit through markets or available ramps. The static profile records its Mexican Peso peg mechanism as: Issuer-controlled wFIAT token: the Ripio affiliate mints WMXN against local Mexican-peso reserves and burns supply as needed, targeting 1 WMXN = 1 MXN through available on/off-ramp conversion and DEX arbitrage.
Is wMXN safe?
As of Nov 10, 2026, Pharos grades wMXN D (45/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found. That is a low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs wMXN?
Pharos records wMXN's reserves as of Jun 30, 2026 as 100% Mexican-peso fiat deposits in a Mexican bank account. Reserve evidence: Agreed-Upon Procedures, latest period ending Jun 30, 2026. Pharos classifies the backing as Real-World Asset Backed.
Can wMXN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments.
How do you redeem wMXN?
Under the route Pharos reviewed on Oct 7, 2026, wMXN redeems for a single stable asset, such as cash or a stablecoin; holder eligibility is not documented. Settlement takes multiple days. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
