Ripio

Ripio
FormerlyBitPagos
Company typePrivate company
IndustryFinancial technology
Founded2013 (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, 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]

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]

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][43][20]

See also

References

  1. ^ a b c "Argentinian Bitcoin Merchant Processor BitPagos Raises $600k". CoinDesk. 17 June 2014. Retrieved 25 January 2026.
  2. ^ a b c d Fintech100: The World's Leading Fintech Innovators 2018 (PDF) (Report). KPMG; H2 Ventures. October 2018. Retrieved 25 January 2026.
  3. ^ a b c d "Ripio Is Launching a Crypto Exchange for 3 Latin American Nations". CoinDesk. 16 May 2019. Retrieved 25 January 2026.
  4. ^ a b c d 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. ^ a b c "Criptomonedas: Ripio continúa su expansión y desembarca en EEUU". Ámbito Financiero (in Spanish). 25 November 2022. Retrieved 25 January 2026.
  6. ^ a b c New paths for sustainable and inclusive economic growth leveraging digital assets (PDF) (Report). Mastercard. November 2022. Retrieved 25 January 2026.
  7. ^ a b c "Ripio Lands in the US, Aims to Lure Latinos". Bloomberg Línea. 25 November 2022. Retrieved 25 January 2026.
  8. ^ a b 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 2 March 2026.
  15. ^ a b "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, la empresa cripto de mayor crecimiento en Argentina, desembarca en México". Infobae (in Spanish). 15 August 2018. Retrieved 25 January 2026.
  19. ^ "Ripio lanzará nuevo exchange para clientes en Argentina, Brasil y México". DiarioBitcoin (in Spanish). 16 May 2019. Retrieved 25 January 2026.
  20. ^ a b "The World Economic Forum's 2020 Technology Pioneers". World Economic Forum. 16 June 2020. Retrieved 25 January 2026.
  21. ^ "Argentina's Ripio Acquires Second-Largest Crypto Exchange in Brazil". CoinDesk. 5 January 2021. Retrieved 25 January 2026.
  22. ^ "Criptomonedas: una empresa argentina, Ripio, compró al segundo exchange más grande de Brasil". La Nación (in Spanish). 5 January 2021. Retrieved 25 January 2026.
  23. ^ "Ripio announces acquisition of BitcoinTrade, Brazil's second-largest crypto exchange". The Block. 5 January 2021. Retrieved 25 January 2026.
  24. ^ "Ripio compró al segundo mayor competidor de activos digitales de Brasil". El Economista (Argentina) (in Spanish). 5 January 2021. Retrieved 2 March 2026.
  25. ^ "Crypto services startup Ripio raises $50 million in Series B funding round". The Block. 20 September 2021. Retrieved 25 January 2026.
  26. ^ "Latin American Crypto Firm Ripio Raises $50M to Accelerate Regional Expansion". CoinDesk. 20 September 2021. Retrieved 25 January 2026.
  27. ^ a b "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.
  28. ^ a b "Spain gives Ripio greenlight to offer crypto products". Blockworks. 27 June 2023. Retrieved 25 January 2026.
  29. ^ a b "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.
  30. ^ "Crypto-assets regulation in Spain and MiCAR". Osborne Clarke. 28 July 2023. Retrieved 25 January 2026.
  31. ^ a b "La Cripto latinoamericana Ripio lanza una moneda estable vinculada al dólar estadounidense". CoinDesk (in Spanish). 3 August 2023. Retrieved 25 January 2026.
  32. ^ "How Latin America's First Ever Stablecoin Could Trigger a Crypto Battle". Bloomberg Línea. 4 August 2023. Retrieved 25 January 2026.
  33. ^ a b ""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.
  34. ^ a b "Latin American Crypto Exchange Ripio Launches Argentine Peso Stablecoin wARS". CoinDesk. 1 November 2025. Retrieved 25 January 2026.
  35. ^ "Esta fintech lanza una stablecoin del peso argentino para transacciones globales". iProfesional (in Spanish). 31 October 2025. Retrieved 2 March 2026.
  36. ^ a b "MercadoLibre's fintech launches its own dollar-backed 'stablecoin' in Brazil". Reuters. 21 August 2024. Retrieved 25 January 2026.
  37. ^ "Latin American Digital Payments Firm Ripio Launches Prepaid Crypto Card in Brazil". CoinDesk. 23 August 2022. Retrieved 25 January 2026.
  38. ^ "Ripio Card, nueva tarjeta Visa para compras con criptomonedas y pesos en Argentina". CriptoNoticias (in Spanish). 10 February 2023. Retrieved 25 January 2026.
  39. ^ "Ripio Partners with Circle to Accelerate USDC Stablecoin Adoption Across Latin America". Circle. 14 October 2020. Retrieved 25 January 2026.
  40. ^ "Ripio, Circle Partner To Boost USDC Stablecoin Use In LatAm". PYMNTS. 14 October 2020. Retrieved 25 January 2026.
  41. ^ "Ripio Comes to Polygon to Accelerate Blockchain Adoption in Latin America". Polygon Technology. 27 February 2023. Retrieved 25 January 2026.
  42. ^ "Ripio and Algorand Join Forces To Offer Better Options for Crypto Trading in LATAM". Algorand Foundation. 24 August 2023. Retrieved 25 January 2026.
  43. ^ "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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