Ripio, an Argentina-based cryptocurrency exchange, has announced that it will expand its operations to the United States. The company, which serves more than 4.5 million customers in Latam, was licensed to operate in the state of Florida and will begin offering Ripio Select services to corporate and institutional investors.
Ripio expands its activities to the USA
Ripio, one of the largest Latam-based exchanges with more than 4.5 million clients on the continent, has announced that it will expand its operations to the United States. The Company has received a license issued by the Florida Office of Financial Regulation, allowing it to offer its suite of services to clients in the United States.
With this confirmation, the company is ready to offer its products to customers in the country, including its custody wallet and exchange services and its newly launched Web3 wallet. Ripio is also planning B2B integration with other companies.
Ripio decided to launch its Select platform first, which focuses on offering crypto-based solutions to other companies and institutional investors. This will be the tip of the spear for the company in the country, with more services set to be rolled out later.
For Sebastian Serrano, co-founder and CEO of Ripio, this is a dream come true for the company and its investors. In a statement offered to Livecoins, Serrano stated:
We are very happy and proud to have achieved this goal, as we have worked hard to operate in a country like the United States, which is undoubtedly one of the dreams and achievements of every entrepreneur.
Additionally, Serrano explained that the company chose the state of Florida because of its status as a crypto hub, where Ripio’s Select platform has great potential.
compliance and growth
Ripio had to meet all of the requirements of Florida’s financial regulations to operate in the state. The company is one of the few exchanges to have been audited by several Big Four companies including PWC, KPMG and EY, and it 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 that has affected multiple crypto exchanges and lenders like Celsius and Blockfi.
The company announced its expansion into Colombia in April, stating that its operations would provide a financial education offering. Later in July, the company presented a textbook and released its own Metaverse Web3-enabled wallet.
What are your thoughts on Ripio’s expansion into the United States? Tell us in the comment section below.
photo credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.