Latam Based Cryptocurrency Exchange Ripio Expands to US – Exchanges Bitcoin News
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Argentina-based cryptocurrency exchange Ripio has announced that it will expand its operations to the United States. In Latami, the company serving more than 4.5 million customers received a business license in the state of Florida and will start offering the Ripio Select program. for companies and institutional investors.
Ripio expands its operations to the United States
Ripio, one of the largest exchanges in Latam, with more than 4.5 million customers on the continent, has announced that it will expand its operations to the United States. The company received a license from the Florida Department of Financial Management to offer its range of services to US customers.
With this approval, the company is ready to bring its products to its customers in the country, including custody wallet and exchange services and the recently launched Web3 wallet. Ripio is also planning B2B integration with other companies.
Ripio decided to first introduce its Select platform, which focuses on providing crypto-based solutions to other companies and institutional investors. This is the spearhead of the company in the country, and other services will be introduced later.
For Ripio’s founder and CEO Sebastian Serrano, this is the dream of the company and its investors. In a statement provided to Livecoins, Serrano stated:
We are very happy and proud to achieve this goal, as we worked hard to be able to operate in a country like the United States, which is undoubtedly the dream and achievement of every entrepreneur.
In addition, Serrano announced that the company chose the state of Florida due to its status as a crypto hub where the Ripion Select platform has great potential.
Compliance and growth
Ripio had to meet all the requirements of the Florida Financial Code in order to operate in the state. The company is one of the few exchanges to have been audited by several Big Four firms, including PWC, KPMG and EY, and is also registered with the Financial Crimes Enforcement Network (FinCEN).
Ripio, whose latest funding round raised $50 million in September 2021, has managed to stay afloat and even expand during this downtrend in the cryptocurrency market, which has affected several crypto exchanges and lenders such as Celsius and Blockfi.
In April, the company announced its expansion into Colombia, stating that its operation would provide an economic education proposition. Later, in July, the company introduced a training textbook and launched its own metaverse Web3 compatible wallet.
What do you think about Ripio’s expansion to the United States? Let us know in the comments section below.
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