Ripio
Argentine financial technology and cryptcurrency company
From Wikipedia, the free encyclopedia
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]
| Formerly | BitPagos |
|---|---|
| Type | Private company |
| Industry | Financial technology |
| Founded | 2013 in Buenos Aires, Argentina[1][2][3] |
| Founders | Sebastián Serrano Luciana Gruszeczka Mugur Marculescu[2] |
| Headquarters | , |
Area served | Latin America; Spain; United States[4][5][6][7] |
| Products | Cryptocurrency trading; digital wallet; stablecoins; payment card; institutional trading services |
| Services | Cryptocurrency exchange |
| Website | www |
History
Founding and early focus (2013–2017)
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)
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)
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
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
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
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
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]