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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, the firm 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] Early coverage described a merchant service to accept bitcoin and reported seed financing from venture investors, including figures associated with accelerator programs.[1][10][11][12] In 2015, BitPagos acquired Unisend, an Argentine exchange, which broadened its activities to exchange and trading services.[13][2][14]

In early 2017, the firm adopted the name Ripio and announced a US$1.9 million Series A round, positioning the change alongside a push toward consumer products in South America.[15][14][16]

Regional expansion and diversification (2018–2020)

In August 2018, Ripio began operating in Mexico, initially with a wallet product for local users.[17] The following year, trade outlets reported plans for an exchange rollout in Argentina, Brazil and Mexico, as well as an OTC desk for institutional clients.[18][3]

In June 2020, the World Economic Forum included Ripio in its Technology Pioneers cohort.[19]

Consolidation and product expansion (2021–present)

In January 2021, Ripio completed the acquisition of Brazil-based BitcoinTrade, described in contemporaneous coverage as one of the country’s larger exchanges by trading volume.[20][21][22]

In September 2021, the company announced a US$50 million Series B led by Digital Currency Group, reported by specialized media.[23][24]

In late 2022, Ripio disclosed its entry into the United States market via a Florida-registered entity focused on institutional services.[25][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; the central bank’s guidance characterizes that register as related to anti–money laundering compliance rather than prudential supervision.[26][27][28]

During 2023 the company presented UXD, a stablecoin pegged to the U.S. dollar, and in 2025 introduced wARS, a token linked to the Argentine peso, according to regional business media.[29][30][31][32]

Operations and business model

Ripio offers consumer-oriented wallet and exchange services in several Latin American markets and in Spain, as noted in a 2022 Mastercard report. It also serves institutions and corporate clients.[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.[4][33]

Products and services

  • Wallet and exchange: retail wallet and trading products available to end users.[4]
  • Institutional trading: an offering referred to as Select, highlighted in the context of the company’s U.S. expansion.[25][5][7]
  • Payment card: in 2022, Ripio launched a Visa-branded prepaid crypto card in Brazil; the product was later introduced in Argentina, according to crypto-focused outlets.[34][35]
  • Stablecoins: UXD (U.S. dollar–pegged) and wARS (Argentine peso–pegged).[29][31][32]

Regulatory and market context

As it has expanded into multiple jurisdictions, Ripio has addressed varying local requirements for virtual-asset service providers, including registration and licensing obligations. In 2023 it received approval to operate in Spain through the Bank of Spain’s register for crypto services, a mechanism centered on anti–money laundering rules that does not constitute prudential oversight. Studies and reports frequently connect crypto adoption in Latin America with macroeconomic conditions such as inflation and a demand for stable-value digital assets.[26][27][28][9][4][6]

Strategic partnerships

  • Circle: in 2020, Circle announced a collaboration with Ripio intended to broaden USDC usage in Latin America through Ripio’s platform.[36][37]
  • Mercado Pago (MercadoLibre): in 2024, Reuters reported that Ripio would function as exchange and market maker for Mercado Pago’s dollar-backed stablecoin in Brazil.[33]
  • Blockchain networks: announcements by Polygon and Algorand described integrations with Ripio for specific network features and assets.[38][39]

Recognition

H2 Ventures and KPMG listed the company in the 2018 Fintech100 ranking, a distinction echoed by Argentine media at the time. In 2020, Ripio was selected for the World Economic Forum’s Technology Pioneers group.[2][40][19]

See also

References

{{reflist|refs= [20] [21] [22] [23] [24] [25] [7] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [14] [16] [8] [6] [11] [12] [3]

  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 e "Ripio Is Launching a Crypto Exchange for 3 Latin American Nations". CoinDesk. 16 May 2019. Retrieved 25 January 2026.
  4. ^ a b c d e f 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 d e New paths for sustainable and inclusive economic growth leveraging digital assets (PDF) (Report). Mastercard. November 2022. Retrieved 25 January 2026.
  7. ^ a b c d "Ripio Lands in the US, Aims to Lure Latinos". Bloomberg Línea. 25 November 2022. Retrieved 25 January 2026.
  8. ^ a b c Blockchain: Opportunities for Private Enterprises in Emerging Markets (PDF) (Report). International Finance Corporation (IFC), World Bank Group. January 2019. Retrieved 25 January 2026.
  9. ^ a b "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. ^ a b "11 Bitcoin Startups Pitch for Funding at Plug and Play Winter Expo". CoinDesk. 15 December 2013. Retrieved 25 January 2026.
  12. ^ a b "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 c "BitPagos Raises $1.9 Million in Funding, Rebrands as Ripio". CoinDesk. 3 January 2017. Retrieved 25 January 2026.
  15. ^ "Argentina's Ripio Lands US$1.9m to Promote Financial Inclusion in South America Using Bitcoin". LAVCA. 3 January 2017. Retrieved 25 January 2026.
  16. ^ a b Fintech in Latin America 2018: Growth and Consolidation (PDF) (Report). Inter-American Development Bank; Finnovista. 2018. Retrieved 25 January 2026.
  17. ^ "Ripio, la empresa cripto de mayor crecimiento en Argentina, desembarca en México". Infobae (in Spanish). 15 August 2018. Retrieved 25 January 2026.
  18. ^ "Ripio lanzará nuevo exchange para clientes en Argentina, Brasil y México". DiarioBitcoin (in Spanish). 16 May 2019. Retrieved 25 January 2026.
  19. ^ a b "The World Economic Forum's 2020 Technology Pioneers". World Economic Forum. 16 June 2020. Retrieved 25 January 2026.
  20. ^ a b "Argentina's Ripio Acquires Second-Largest Crypto Exchange in Brazil". CoinDesk. 5 January 2021. Retrieved 25 January 2026.
  21. ^ a b "Criptomonedas: una empresa argentina, Ripio, compró al segundo exchange más grande de Brasil". La Nación (in Spanish). 5 January 2021. Retrieved 25 January 2026.
  22. ^ a b "Ripio announces acquisition of BitcoinTrade, Brazil's second-largest crypto exchange". The Block. 5 January 2021. Retrieved 25 January 2026.
  23. ^ a b "Crypto services startup Ripio raises $50 million in Series B funding round". The Block. 20 September 2021. Retrieved 25 January 2026.
  24. ^ a b "Latin American Crypto Firm Ripio Raises $50M to Accelerate Regional Expansion". CoinDesk. 20 September 2021. Retrieved 25 January 2026.
  25. ^ a b c "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.
  26. ^ a b c "Spain gives Ripio greenlight to offer crypto products". Blockworks. 27 June 2023. Retrieved 25 January 2026.
  27. ^ a b c "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.
  28. ^ a b c "Crypto-assets regulation in Spain and MiCAR". Osborne Clarke. 28 July 2023. Retrieved 25 January 2026.
  29. ^ a b c "La Cripto latinoamericana Ripio lanza una moneda estable vinculada al dólar estadounidense". CoinDesk (in Spanish). 3 August 2023. Retrieved 25 January 2026.
  30. ^ a b "How Latin America's First Ever Stablecoin Could Trigger a Crypto Battle". Bloomberg Línea. 4 August 2023. Retrieved 25 January 2026.
  31. ^ a b c ""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.
  32. ^ a b c "Latin American Crypto Exchange Ripio Launches Argentine Peso Stablecoin wARS". CoinDesk. 1 November 2025. Retrieved 25 January 2026.
  33. ^ a b c "MercadoLibre's fintech launches its own dollar-backed 'stablecoin' in Brazil". Reuters. 21 August 2024. Retrieved 25 January 2026.
  34. ^ a b "Latin American Digital Payments Firm Ripio Launches Prepaid Crypto Card in Brazil". CoinDesk. 23 August 2022. Retrieved 25 January 2026.
  35. ^ a b "Ripio Card, nueva tarjeta Visa para compras con criptomonedas y pesos en Argentina". CriptoNoticias (in Spanish). 10 February 2023. Retrieved 25 January 2026.
  36. ^ a b "Ripio Partners with Circle to Accelerate USDC Stablecoin Adoption Across Latin America". Circle. 14 October 2020. Retrieved 25 January 2026.
  37. ^ a b "Ripio, Circle Partner To Boost USDC Stablecoin Use In LatAm". PYMNTS. 14 October 2020. Retrieved 25 January 2026.
  38. ^ a b "Ripio Comes to Polygon to Accelerate Blockchain Adoption in Latin America". Polygon Technology. 27 February 2023. Retrieved 25 January 2026.
  39. ^ a b "Ripio and Algorand Join Forces To Offer Better Options for Crypto Trading in LATAM". Algorand Foundation. 24 August 2023. Retrieved 25 January 2026.
  40. ^ a b "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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