Company:Ripio

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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

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]

Recognition

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

References

  1. ↑ 1.0 1.1 1.2 "Argentinian Bitcoin Merchant Processor BitPagos Raises $600k" (in en). CoinDesk. 17 June 2014. https://www.coindesk.com/markets/2014/06/17/argentinian-bitcoin-merchant-processor-bitpagos-raises-600k. 
  2. ↑ 2.0 2.1 2.2 2.3 Fintech100: The World's Leading Fintech Innovators 2018 (Report). KPMG; H2 Ventures. October 2018. https://assets.kpmg.com/content/dam/kpmg/co/pdf/2018/10/fintech-100-the-worlds-leading-fintech-innovators.pdf. Retrieved 25 January 2026. 
  3. ↑ 3.0 3.1 3.2 3.3 "Ripio Is Launching a Crypto Exchange for 3 Latin American Nations" (in en). CoinDesk. 16 May 2019. https://www.coindesk.com/markets/2019/05/16/ripio-is-launching-a-crypto-exchange-for-3-latin-american-nations. 
  4. ↑ 4.0 4.1 4.2 (in es) Nuevos caminos para un crecimiento económico sustentable: Monedas digitales y su rol en América Latina y el Caribe (Report). Mastercard. 2022. https://www.mastercard.com/news/media/i2znvb0i/lac-digital-currencies-white-paper-spanish.pdf. Retrieved 25 January 2026. 
  5. ↑ 5.0 5.1 5.2 "Criptomonedas: Ripio continúa su expansión y desembarca en EEUU" (in es). Ámbito Financiero. 25 November 2022. https://www.ambito.com/negocios/criptomonedas/ripio-continua-su-expansion-y-desembarca-eeuu-n5592892. 
  6. ↑ 6.0 6.1 6.2 (in en) New paths for sustainable and inclusive economic growth leveraging digital assets (Report). Mastercard. November 2022. https://www.mastercard.com/news/media/003ng0x1/lac-digital-currencies-white-paper-english.pdf. Retrieved 25 January 2026. 
  7. ↑ 7.0 7.1 7.2 "Ripio Lands in the US, Aims to Lure Latinos" (in en). Bloomberg Línea. 25 November 2022. https://www.bloomberglinea.com/english/ripio-lands-in-the-us-aims-to-lure-latinos/. 
  8. ↑ 8.0 8.1 (in en) Blockchain: Opportunities for Private Enterprises in Emerging Markets (Report). International Finance Corporation (IFC), World Bank Group. January 2019. https://documents1.worldbank.org/curated/en/260121548673898731/pdf/134063-WP-121278-2nd-edition-IFC-EMCompass-Blockchain-Report-PUBLIC.pdf. Retrieved 25 January 2026. 
  9. ↑ "Latin America Emerges as a Crypto Powerhouse Amid Volatile Growth". 2 October 2025. https://www.chainalysis.com/blog/latin-america-crypto-adoption-2025/. 
  10. ↑ "Bitcoin-Infused Accelerator Boost.vc Gains Momentum With The Launch Of Stellar Second Batch" (in en). TechCrunch. 24 September 2013. https://techcrunch.com/2013/09/24/bitcoin-infused-accelerator-boost-vc-gains-momentum-with-the-launch-of-stellar-second-batch/. 
  11. ↑ "11 Bitcoin Startups Pitch for Funding at Plug and Play Winter Expo" (in en). CoinDesk. 15 December 2013. https://www.coindesk.com/markets/2013/12/15/11-bitcoin-startups-pitch-for-funding-at-plug-and-play-winter-expo. 
  12. ↑ "Why Argentina's Debt Default is an Opportunity for Bitcoin" (in en). CoinDesk. 1 August 2014. https://www.coindesk.com/markets/2014/08/01/why-argentinas-debt-default-is-an-opportunity-for-bitcoin. 
  13. ↑ "BitPagos Acquires Argentinian Bitcoin Exchange Unisend" (in en). Bitcoin Magazine. 16 September 2015. https://bitcoinmagazine.com/markets/bitpagos-acquires-argentinian-bitcoin-exchange-unisend-1442439298. 
  14. ↑ "A&B asesora a BitPagos en la adquisición de Unisend" (in es). LexLatin. 22 September 2015. https://lexlatin.com/noticia/allende-brea-asesora-a-bitpagos-en-la-adquisicion-de-unisend. 
  15. ↑ 15.0 15.1 "BitPagos Raises $1.9 Million in Funding, Rebrands as Ripio" (in en). CoinDesk. 3 January 2017. https://www.coindesk.com/markets/2017/01/03/bitpagos-raises-19-million-in-funding-rebrands-as-ripio. 
  16. ↑ "Argentina's Ripio Lands US$1.9m to Promote Financial Inclusion in South America Using Bitcoin" (in en). 3 January 2017. https://www.lavca.org/argentinas-ripio-lands-us1-9m-to-promote-financial-inclusion-in-south-america-using-bitcoin/. 
  17. ↑ (in en) Fintech in Latin America 2018: Growth and Consolidation (Report). Inter-American Development Bank; Finnovista. 2018. https://publications.iadb.org/publications/english/document/Fintech-Latin-America-2018-Growth-and-Consolidation-final.pdf. Retrieved 25 January 2026. 
  18. ↑ "Ripio Closes $37 Million ICO for Ethereum Lending Network" (in en). CoinDesk. 6 November 2017. https://www.coindesk.com/markets/2017/11/06/ripio-closes-37-million-ico-for-ethereum-lending-network/. 
  19. ↑ "Ripio Credit Network launches, aiming to attack bank loan fees in emerging markets" (in en). TechCrunch. 20 September 2017. https://techcrunch.com/2017/09/20/ripio-credit-network-launches-aiming-to-attack-bank-loan-fees-in-emerging-markets/. 
  20. ↑ "Ripio, la empresa cripto de mayor crecimiento en Argentina, desembarca en México" (in es). Infobae. 15 August 2018. https://www.infobae.com/cripto247/mercados/2018/08/15/ripio-la-empresa-cripto-de-mayor-crecimiento-en-argentina-desembarca-en-mexico/. 
  21. ↑ "Ripio Rolls Out Crypto-Powered Loans Across Latin America" (in en). CoinDesk. 5 September 2018. https://www.coindesk.com/markets/2018/09/05/ripio-rolls-out-crypto-powered-loans-across-latin-america/. 
  22. ↑ "Ripio lanzará nuevo exchange para clientes en Argentina, Brasil y México" (in es). DiarioBitcoin. 16 May 2019. https://www.diariobitcoin.com/america-latina/ripio-lanzara-nuevo-exchange-para-clientes-en-argentina-brasil-y-mexico/. 
  23. ↑ "South American Startup Ripio Rolls Out Crypto-Fiat Exchange and OTC Desk" (in en). CoinTelegraph. 16 May 2019. https://cointelegraph.com/news/south-american-startup-ripio-rolls-out-crypto-fiat-exchange-and-otc-desk. 
  24. ↑ 24.0 24.1 "The World Economic Forum's 2020 Technology Pioneers" (in en). 16 June 2020. https://www.weforum.org/stories/2020/06/technology-pioneers-2020/. 
  25. ↑ "Argentina's Ripio Acquires Second-Largest Crypto Exchange in Brazil" (in en). CoinDesk. 5 January 2021. https://www.coindesk.com/business/2021/01/05/argentinas-ripio-acquires-second-largest-crypto-exchange-in-brazil/. 
  26. ↑ "Criptomonedas: una empresa argentina, Ripio, compró al segundo exchange más grande de Brasil" (in es). La Nación. 5 January 2021. https://www.lanacion.com.ar/economia/negocios/criptomonedas-empresa-argentina-ripio-compro-al-segundo-nid2561318/. 
  27. ↑ "Ripio announces acquisition of BitcoinTrade, Brazil's second-largest crypto exchange" (in en). The Block. 5 January 2021. https://www.theblock.co/linked/90117/ripio-announces-acquisition-of-bitcointrade-brazils-second-largest-crypto-exchange. 
  28. ↑ "Ripio compró al segundo mayor competidor de activos digitales de Brasil" (in es). El Economista. 5 January 2021. https://eleconomista.com.ar/negocios/ripio-compro-segundo-mayor-competidor-activos-digitales-brasil-n40361. 
  29. ↑ "Crypto services startup Ripio raises $50 million in Series B funding round" (in en). The Block. 20 September 2021. https://www.theblock.co/linked/118107/crypto-services-startup-ripio-raises-50-million-in-series-b-funding-round. 
  30. ↑ "Latin American Crypto Firm Ripio Raises $50M to Accelerate Regional Expansion" (in en). CoinDesk. 20 September 2021. https://www.coindesk.com/business/2021/09/20/latin-american-crypto-firm-ripio-raises-50m-to-accelerate-regional-expansion/. 
  31. ↑ 31.0 31.1 "Ripio anuncia su desembarco en Estados Unidos: cuáles son los planes de la empresa en ese país" (in es). Forbes Argentina. 22 November 2022. https://www.forbesargentina.com/negocios/ripio-anuncia-su-desembarco-estados-unidos-cuales-son-planes-empresa-ese-pais-n25215. 
  32. ↑ 32.0 32.1 "Spain gives Ripio greenlight to offer crypto products" (in en). Blockworks. 27 June 2023. https://blockworks.co/news/ripio-greenlight-spain. 
  33. ↑ 33.0 33.1 "Nuevo registro de proveedores de cambio de moneda virtual por moneda fiduciaria y custodia de monederos electrónicos" (in es). 24 March 2022. https://clientebancario.bde.es/pcb/es/blog/registros-del-banco-de-espana.html. 
  34. ↑ "Crypto-assets regulation in Spain and MiCAR" (in en). 28 July 2023. https://www.osborneclarke.com/insights/crypto-assets-regulation-spain-and-micar. 
  35. ↑ 35.0 35.1 "La Cripto latinoamericana Ripio lanza una moneda estable vinculada al dólar estadounidense" (in es). CoinDesk. 3 August 2023. https://www.coindesk.com/es/business/2023/08/03/latin-american-crypto-company-ripio-launches-us-dollar-pegged-stablecoin. 
  36. ↑ "How Latin America's First Ever Stablecoin Could Trigger a Crypto Battle" (in en). Bloomberg Línea. 4 August 2023. https://www.bloomberglinea.com/english/how-latin-americas-first-ever-stablecoin-could-trigger-a-crypto-battle/. 
  37. ↑ 37.0 37.1 ""Marca un hito": el peso argentino se podrá operar 24/7 y sin bancos en el medio" (in es). La Nación. 29 October 2025. https://www.lanacion.com.ar/economia/IA/marca-un-hito-el-peso-argentino-se-podra-operar-247-y-sin-bancos-en-el-medio-nid29102025/. 
  38. ↑ 38.0 38.1 "Latin American Crypto Exchange Ripio Launches Argentine Peso Stablecoin wARS" (in en). CoinDesk. 1 November 2025. https://www.coindesk.com/markets/2025/11/01/latin-american-crypto-exchange-ripio-launches-argentine-peso-stablecoin-wars/. 
  39. ↑ "Esta fintech lanza una stablecoin del peso argentino para transacciones globales" (in es). iProfesional. 31 October 2025. https://www.iprofesional.com/tecnologia/440867-ripio-lanza-wars-stablecoin-de-peso-argentino-para-pagos-digitales. 
  40. ↑ 40.0 40.1 "MercadoLibre's fintech launches its own dollar-backed 'stablecoin' in Brazil" (in en). Reuters. 21 August 2024. https://www.reuters.com/technology/mercadolibres-fintech-launches-its-own-dollar-backed-stablecoin-brazil-2024-08-21/. 
  41. ↑ "Latin American Digital Payments Firm Ripio Launches Prepaid Crypto Card in Brazil" (in en). CoinDesk. 23 August 2022. https://www.coindesk.com/business/2022/08/23/latin-american-digital-payments-firm-ripio-launches-prepaid-crypto-card-in-brazil. 
  42. ↑ "Ripio Card, nueva tarjeta Visa para compras con criptomonedas y pesos en Argentina" (in es). CriptoNoticias. 10 February 2023. https://www.criptonoticias.com/mercados/ripio-card-nueva-tarjeta-visa-compras-criptomonedas-pesos-argentina/. 
  43. ↑ "Ripio Partners with Circle to Accelerate USDC Stablecoin Adoption Across Latin America" (in en). 14 October 2020. https://investor.circle.com/news/news-details/2020/Ripio-Partners-with-Circle-to-Accelerate-USDC-Stablecoin-Adoption-Across-Latin-America/default.aspx. 
  44. ↑ "Ripio, Circle Partner To Boost USDC Stablecoin Use In LatAm" (in en). PYMNTS. 14 October 2020. https://www.pymnts.com/cryptocurrency/2020/ripio-circle-partner-boost-usdc-stablecoin-use-latam/. 
  45. ↑ "Ripio Comes to Polygon to Accelerate Blockchain Adoption in Latin America" (in en). 27 February 2023. https://polygon.technology/blog/ripio-comes-to-polygon-to-accelerate-blockchain-adoption-in-latin-america. 
  46. ↑ "Ripio and Algorand Join Forces To Offer Better Options for Crypto Trading in LATAM" (in en). 24 August 2023. https://algorand.co/news/ripio-and-algorand-join-forces-to-offer-better-options-for-crypto-trading-in-latam. 
  47. ↑ "Ripio fue seleccionado entre los cien proyectos fintech más innovadores del mundo" (in es). Infobae. 5 November 2018. https://www.infobae.com/cripto247/mercados/2018/11/05/ripio-fue-seleccionado-entre-los-cien-proyectos-fintech-mas-innovadores-del-mundo/. 



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