Using XCode and new build system in react native

I'm trying to use the new build system to compile a react native project.

I'm using XCode 11.5 and created a project from scratch with react-native-cli.

When I add some dependency on Cocoapods, the build phase "[CP] Embed Pod Frameworks" fails with following message: /Users/jeferson/Projects/AwesomeProject/ios/Pods/Target Support Files/Pods-AwesomeProject/Pods-AwesomeProject-frameworks.sh: line 131: ARCHS[@]: unbound variable

How to use the new build system with cocoapods and react native?