Latam Based Cryptocurrency Exchange Ripio Expands to US – Ripio, one of the largest exchanges in Latin America, with over 4.5 million customers, has announced that it will expand its operations to the United States. The company obtained a license from the Florida Office of Financial Regulation, allowing it to offer its suite of services to customers in the United States. With this endorsement, the company is prepared to bring its products, including its custodial wallet and exchange services, as well as its newly launched Web3 wallet, to customers in the country. Additionally, Ripio intends to offer B2B integration with other businesses.
Ripio chose to launch its Select platform first, which offers crypto-based solutions to other businesses and institutional investors. This will be the company’s flagship service in the country; other services will be introduced later. According to Sebastian Serrano, co-founder and CEO of Ripio, this is a dream come true for the company and its investors. In a statement 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 one of the dreams and achievements of any entrepreneur.”
In addition, Serrano stated that the company chose Florida due to the state’s status as a crypto hub where the Ripio Select platform has great potential. To be permitted to operate in Florida, Ripio was required to comply with all of the state’s financial regulations. The company is one of the few exchanges to have been audited by PWC, KPMG, and EY, as well as registered with the Financial Crimes Enforcement Network (FinCEN).
Ripio, whose most recent funding round raised $50 million in September 2021, has been able to remain afloat and even grow during the current cryptocurrency market downtrend, which has impacted several crypto exchanges and lenders such as Celsius and Blockfi. In April, the company announced its expansion to Colombia, stating that it would offer a financial education program. In July, the company released a metaverse Web3-enabled wallet and presented an educational textbook.
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