Ripio
Argentine cryptocurrency 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, it began as a bitcoin payments processor and later expanded into a cryptocurrency exchange, wallet offerings and services for institutional clients.[1][3][9][4]
| Formerly | BitPagos |
|---|---|
| Company 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; at launch it operated as BitPagos.[3][1][10][11][12]
In the year 2015, BitPagos acquired Unisend, an Argentine bitcoin exchange, broadening its activities to exchange and trading services.[13][14][2][15]
In early 2017, the firm adopted the name Ripio and announced a US$1.9 million Series A round.[16][15][17]
Regional expansion and diversification (2018–2020)
In August of the year 2018, Ripio began operating in Mexico, initially with a wallet product for local users.[18] In 2019, industry publications reported plans for an exchange rollout in Argentina, Brazil and Mexico, as well as an OTC desk for institutional clients.[3][19]
In June 2020, the World Economic Forum included Ripio in its Technology Pioneers cohort.[20]
Consolidation and product expansion (2021–present)
The acquisition of BitcoinTrade by Ripio was completed in January 2021. The Brazilian exchange BitcoinTrade operated as one of the largest exchanges in the country according to trading volume at that time..[21][22][23][24]
In September of the year 2021, specialized media reported that the company raised US$50 million in a Series B led by Digital Currency Group.[25][26]
In late 2022, Ripio disclosed its entry into the United States market via a Florida-registered entity focused on institutional services.[27][5][7]
In June of the year 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.[28][29][30]
In 2023, the company announced UXD, a stablecoin linked to the U.S. dollar, and in 2025 introduced wARS, a token linked to the Argentine peso, according to business and crypto-focused media.[31][32][33][34][35]
Operations and business model
Ripio provides digital wallet and trading platform services to consumers across multiple Latin American countries and Spain, according to a 2022 Mastercard report, while also delivering services to institutional and business customers.[4][6][8] In 2024, Reuters reported that Ripio would act as an exchange and market maker for Mercado Pago’s dollar-backed stablecoin in Brazil.[36]
Products and services
Ripio’s consumer products include a digital wallet and trading platform, and it has also operated an institutional/OTC offering reported in coverage of its U.S. expansion.[4][27][5][7] In 2022, CoinDesk reported that Ripio launched a Visa-branded prepaid crypto card in Brazil; crypto-focused outlets later reported the product’s introduction in Argentina.[37][38] Media reporting has also covered the company’s launch of stablecoin products (UXD and wARS).[31][33][34]
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.[28][29]
Partnerships
In 2020, Circle announced a collaboration with Ripio aimed at supporting USDC usage in Latin America.[39][40] Reuters reported in 2024 that Ripio would serve as exchange and market maker for Mercado Pago’s dollar-backed stablecoin in Brazil.[36] Polygon and the Algorand Foundation have also published announcements describing integrations with Ripio.[41][42]