Argentina-based cryptocurrency exchange Ripio The company, which serves more than 4.5 million customers in Latin America, has obtained a license to operate in Florida and will begin offering its Ripio Select service to businesses and institutions.
Ripio Expands Operations to US
Ripio is one of the largest exchanges in Latin America, with over 4.5 million customers on the continent, Announced expansion of operations to the United States. The company has obtained a license granted by the Florida Department of Financial Regulation. This will allow us to offer a range of services to our US customers.
With this approval, the company is ready to offer its domestic customers products such as custodial wallets, exchange services, and his newly launched Web3 wallet. Ripio also plans to offer B2B integrations with other companies.
Ripio decided to launch the Select platform first, focused on providing crypto-based solutions to other companies and institutions. This is the tip of the spear for the domestic company, with other services to be introduced later.
For Sebastian Serrano, co-founder and CEO of Ripio, this is a dream come true for the company and its investors. In a statement filed with Livecoins, Serrano declared:
Without a doubt, he is one of the dreams and achievements of every entrepreneur in the United States. .
Serrano further declared that the firm’s choice of Florida was due to Ripio’s Select platform positioning itself as a crypto hub with great potential.
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Compliance and Growth
Ripio must comply with all requirements of Florida’s financial regulations in order to do business in Florida. did. The company is one of the few exchanges audited by Big Four, including PWC, KPMG and EY, and is also registered with the Financial Crimes Enforcement Network (FinCEN).
Ripio, which raised $50 million in its latest funding round in September 2021, is a major player in this cryptocurrency market that has inspired several cryptocurrency exchanges and lenders such as Celsius and Blockfi. It managed to survive and even expand in the downtrend.
The company announced its expansion to Colombia in April and said the business would offer financial education offers. Then, in July, the company launched an educational textbook and released its own Metaverse Web3 enabled wallet.
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