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Ripio

From Wikipedia, the free encyclopedia
Ripio
FormerlyBitPagos
TypePrivate company
IndustryFinancial technology
Founded2013; 13 years ago (2013) in Buenos Aires, Argentina[1][2][3]
FoundersSebastián Serrano
Luciana Gruszeczka
Mugur Marculescu[2]
Headquarters
Buenos Aires
,
Argentina
Area served
Latin America; Spain; United States[4][5][6][7]
ProductsCryptocurrency trading; digital wallet; stablecoins; payment card; institutional trading services
ServicesCryptocurrency exchange
Websitewww.ripio.com

Ripio is an Argentine financial technology company focused on cryptocurrencies.[8][6] Founded in Buenos Aires in 2013 as BitPagos, the company began as a bitcoin payments processor before expanding into a cryptocurrency exchange, consumer wallet products, and services for institutional clients.[1][3][9]

History

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Founding and early focus (2013–2017)

[edit]

The company was established in Buenos Aires in 2013 by Sebastián Serrano, Luciana Gruszeczka and Mugur Marculescu, operating at launch under the name BitPagos.[3][1][10][11][12]

In 2015, BitPagos acquired Unisend, an Argentine bitcoin exchange, adding exchange and trading services to its offering.[13][14][2][15]

In early 2017, the company rebranded as Ripio and closed a US$1.9 million Series A round.[16][15][17] Later that year, in November 2017, Ripio raised US$37 million through an initial coin offering (ICO) for the Ripio Credit Network, a peer-to-peer lending platform built on Ethereum smart contracts.[18][19]

Regional expansion and diversification (2018–2020)

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In August 2018, Ripio began operating in Mexico, initially offering a wallet product to local users.[20][21] In 2019, CoinDesk and CoinTelegraph reported that the company planned to launch a crypto-to-fiat exchange in Argentina, Brazil and Mexico, along with an OTC desk for institutional clients.[3][22][23]

In June 2020, the World Economic Forum included Ripio in its Technology Pioneers cohort.[24]

Consolidation and product expansion (2021–present)

[edit]

Ripio completed its acquisition of BitcoinTrade in January 2021. The Brazilian exchange was at that time one of the country's largest by trading volume.[25][26][27][28]

In September 2021, The Block and CoinDesk reported that the company had raised US$50 million in a Series B led by Digital Currency Group.[29][30]

In late 2022, Ripio announced its entry into the United States market through a Florida-registered entity focused on institutional services.[31][5][7]

In June 2023, Blockworks reported that Ripio had been registered to operate in Spain under the Bank of Spain's framework for certain virtual-asset service providers; Bank of Spain guidance describes that register as focused on anti–money laundering compliance rather than prudential supervision.[32][33][34]

In 2023 the company launched UXD, a stablecoin linked to the U.S. dollar, and in 2025 introduced wARS, a token linked to the Argentine peso.[35][36][37][38][39]

Operations and business model

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Ripio offers digital wallet and trading platform services to consumers across multiple Latin American countries and Spain, according to a 2022 Mastercard report, and also serves institutional and business customers.[4][6][8] In 2024, Reuters reported that Ripio would act as exchange and market maker for Mercado Pago's dollar-backed stablecoin in Brazil.[40]

Products and services

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Ripio's consumer products include a digital wallet and trading platform; the company has also operated an institutional and OTC offering, reported in connection with its U.S. expansion.[4][31][5][7] In 2022, CoinDesk reported that Ripio launched a Visa-branded prepaid crypto card in Brazil; later coverage reported the product's introduction in Argentina.[41][42] The company has also launched two stablecoin products, UXD and wARS.[35][37][38]

Regulation

[edit]

As Ripio expanded into multiple jurisdictions, reporting has referenced local registration or licensing requirements for virtual-asset service providers. In Spain, coverage linked Ripio's approval to the Bank of Spain register for crypto-asset exchange and custody providers, which Bank of Spain guidance frames as an anti–money laundering register rather than prudential supervision.[32][33]

Partnerships

[edit]

In 2020, Circle announced a collaboration with Ripio aimed at supporting USDC usage in Latin America.[43][44] Reuters reported in 2024 that Ripio would serve as exchange and market maker for Mercado Pago's dollar-backed stablecoin in Brazil.[40] Polygon and the Algorand Foundation have also published announcements describing integrations with Ripio.[45][46]

Recognition

[edit]

H2 Ventures and KPMG listed the company in the 2018 Fintech100 ranking, and in 2020 the World Economic Forum selected Ripio for its Technology Pioneers group.[2][47][24]

See also

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References

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  1. 1 2 3 "Argentinian Bitcoin Merchant Processor BitPagos Raises $600k". CoinDesk. 17 June 2014. Retrieved 25 January 2026.
  2. 1 2 3 4 Fintech100: The World's Leading Fintech Innovators 2018 (PDF) (Report). KPMG; H2 Ventures. October 2018. Retrieved 25 January 2026.
  3. 1 2 3 4 "Ripio Is Launching a Crypto Exchange for 3 Latin American Nations". CoinDesk. 16 May 2019. Retrieved 25 January 2026.
  4. 1 2 3 Nuevos caminos para un crecimiento económico sustentable: Monedas digitales y su rol en América Latina y el Caribe (PDF) (Report) (in Spanish). Mastercard. 2022. Retrieved 25 January 2026.
  5. 1 2 3 "Criptomonedas: Ripio continúa su expansión y desembarca en EEUU". Ámbito Financiero (in Spanish). 25 November 2022. Retrieved 25 January 2026.
  6. 1 2 3 New paths for sustainable and inclusive economic growth leveraging digital assets (PDF) (Report). Mastercard. November 2022. Retrieved 25 January 2026.
  7. 1 2 3 "Ripio Lands in the US, Aims to Lure Latinos". Bloomberg Línea. 25 November 2022. Retrieved 25 January 2026.
  8. 1 2 Blockchain: Opportunities for Private Enterprises in Emerging Markets (PDF) (Report). International Finance Corporation (IFC), World Bank Group. January 2019. Retrieved 25 January 2026.
  9. ↑ "Latin America Emerges as a Crypto Powerhouse Amid Volatile Growth". Chainalysis. 2 October 2025. Retrieved 25 January 2026.
  10. ↑ "Bitcoin-Infused Accelerator Boost.vc Gains Momentum With The Launch Of Stellar Second Batch". TechCrunch. 24 September 2013. Retrieved 25 January 2026.
  11. ↑ "11 Bitcoin Startups Pitch for Funding at Plug and Play Winter Expo". CoinDesk. 15 December 2013. Retrieved 25 January 2026.
  12. ↑ "Why Argentina's Debt Default is an Opportunity for Bitcoin". CoinDesk. 1 August 2014. Retrieved 25 January 2026.
  13. ↑ "BitPagos Acquires Argentinian Bitcoin Exchange Unisend". Bitcoin Magazine. 16 September 2015. Retrieved 25 January 2026.
  14. ↑ "A&B asesora a BitPagos en la adquisición de Unisend". LexLatin (in Spanish). 22 September 2015. Retrieved 25 January 2026.
  15. 1 2 "BitPagos Raises $1.9 Million in Funding, Rebrands as Ripio". CoinDesk. 3 January 2017. Retrieved 25 January 2026.
  16. ↑ "Argentina's Ripio Lands US$1.9m to Promote Financial Inclusion in South America Using Bitcoin". LAVCA. 3 January 2017. Retrieved 25 January 2026.
  17. ↑ Fintech in Latin America 2018: Growth and Consolidation (PDF) (Report). Inter-American Development Bank; Finnovista. 2018. Retrieved 25 January 2026.
  18. ↑ "Ripio Closes $37 Million ICO for Ethereum Lending Network". CoinDesk. 6 November 2017. Retrieved 25 January 2026.
  19. ↑ "Ripio Credit Network launches, aiming to attack bank loan fees in emerging markets". TechCrunch. 20 September 2017. Retrieved 25 January 2026.
  20. ↑ "Ripio, la empresa cripto de mayor crecimiento en Argentina, desembarca en México". Infobae (in Spanish). 15 August 2018. Retrieved 25 January 2026.
  21. ↑ "Ripio Rolls Out Crypto-Powered Loans Across Latin America". CoinDesk. 5 September 2018. Retrieved 25 January 2026.
  22. ↑ "Ripio lanzará nuevo exchange para clientes en Argentina, Brasil y México". DiarioBitcoin (in Spanish). 16 May 2019. Retrieved 25 January 2026.
  23. ↑ "South American Startup Ripio Rolls Out Crypto-Fiat Exchange and OTC Desk". CoinTelegraph. 16 May 2019. Retrieved 25 January 2026.
  24. 1 2 "The World Economic Forum's 2020 Technology Pioneers". World Economic Forum. 16 June 2020. Retrieved 25 January 2026.
  25. ↑ "Argentina's Ripio Acquires Second-Largest Crypto Exchange in Brazil". CoinDesk. 5 January 2021. Retrieved 25 January 2026.
  26. ↑ "Criptomonedas: una empresa argentina, Ripio, compró al segundo exchange más grande de Brasil". La Nación (in Spanish). 5 January 2021. Retrieved 25 January 2026.
  27. ↑ "Ripio announces acquisition of BitcoinTrade, Brazil's second-largest crypto exchange". The Block. 5 January 2021. Retrieved 25 January 2026.
  28. ↑ "Ripio compró al segundo mayor competidor de activos digitales de Brasil". El Economista (in Spanish). 5 January 2021. Retrieved 25 January 2026.
  29. ↑ "Crypto services startup Ripio raises $50 million in Series B funding round". The Block. 20 September 2021. Retrieved 25 January 2026.
  30. ↑ "Latin American Crypto Firm Ripio Raises $50M to Accelerate Regional Expansion". CoinDesk. 20 September 2021. Retrieved 25 January 2026.
  31. 1 2 "Ripio anuncia su desembarco en Estados Unidos: cuáles son los planes de la empresa en ese país". Forbes Argentina (in Spanish). 22 November 2022. Retrieved 25 January 2026.
  32. 1 2 "Spain gives Ripio greenlight to offer crypto products". Blockworks. 27 June 2023. Retrieved 25 January 2026.
  33. 1 2 "Nuevo registro de proveedores de cambio de moneda virtual por moneda fiduciaria y custodia de monederos electrónicos". Banco de España (in Spanish). 24 March 2022. Retrieved 25 January 2026.
  34. ↑ "Crypto-assets regulation in Spain and MiCAR". Osborne Clarke. 28 July 2023. Retrieved 25 January 2026.
  35. 1 2 "La Cripto latinoamericana Ripio lanza una moneda estable vinculada al dólar estadounidense". CoinDesk (in Spanish). 3 August 2023. Retrieved 25 January 2026.
  36. ↑ "How Latin America's First Ever Stablecoin Could Trigger a Crypto Battle". Bloomberg Línea. 4 August 2023. Retrieved 25 January 2026.
  37. 1 2 ""Marca un hito": el peso argentino se podrá operar 24/7 y sin bancos en el medio". La Nación (in Spanish). 29 October 2025. Retrieved 25 January 2026.
  38. 1 2 "Latin American Crypto Exchange Ripio Launches Argentine Peso Stablecoin wARS". CoinDesk. 1 November 2025. Retrieved 25 January 2026.
  39. ↑ "Esta fintech lanza una stablecoin del peso argentino para transacciones globales". iProfesional (in Spanish). 31 October 2025. Retrieved 25 January 2026.
  40. 1 2 "MercadoLibre's fintech launches its own dollar-backed 'stablecoin' in Brazil". Reuters. 21 August 2024. Retrieved 25 January 2026.
  41. ↑ "Latin American Digital Payments Firm Ripio Launches Prepaid Crypto Card in Brazil". CoinDesk. 23 August 2022. Retrieved 25 January 2026.
  42. ↑ "Ripio Card, nueva tarjeta Visa para compras con criptomonedas y pesos en Argentina". CriptoNoticias (in Spanish). 10 February 2023. Retrieved 25 January 2026.
  43. ↑ "Ripio Partners with Circle to Accelerate USDC Stablecoin Adoption Across Latin America". Circle. 14 October 2020. Retrieved 25 January 2026.
  44. ↑ "Ripio, Circle Partner To Boost USDC Stablecoin Use In LatAm". PYMNTS. 14 October 2020. Retrieved 25 January 2026.
  45. ↑ "Ripio Comes to Polygon to Accelerate Blockchain Adoption in Latin America". Polygon Technology. 27 February 2023. Retrieved 25 January 2026.
  46. ↑ "Ripio and Algorand Join Forces To Offer Better Options for Crypto Trading in LATAM". Algorand Foundation. 24 August 2023. Retrieved 25 January 2026.
  47. ↑ "Ripio fue seleccionado entre los cien proyectos fintech más innovadores del mundo". Infobae (in Spanish). 5 November 2018. Retrieved 25 January 2026.
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