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Ripio, an Argentina-based cryptocurrency exchange, has announced that it will expand its operations to the United States. The company, which serves more than 4.5 million customers in Latam, has received a license in the state of Florida to operate and will begin offering its Ripio Select services to corporate and institutional investors.

Ripio expands its operations in the United States

Ripio, one of the largest exchanges in Latin America, with more than 4.5 million customers on the continent, has announced that it will expand its operations in the United States. The company has obtained a license granted by the Florida Office of Financial Regulation, which will allow it to offer its range of services to US clients.

With this approval, the company is ready to bring its products to customers nationwide, including its custodial wallet and exchange services, as well as its new Web3 wallet. Additionally, Ripio plans to provide B2B integration with other companies.

Ripio decided to introduce its Select platform first, which focuses on offering crypto-based solutions to other businesses and institutional investors. This will spearhead the business in the country, with other services to be introduced later.

For Ripio co-founder and CEO Sebastian Serrano, it’s a dream come true for the company and its investors. In a statement offered to Livecoins, Serrano declared:

We are very happy and proud to have achieved this goal, because we have worked hard to be able to operate in a country like the United States, which is undoubtedly one of the dreams and achievements of any entrepreneur.

Additionally, Serrano said the company chose the state of Florida because of its status as a crypto hub where Ripio’s Select platform has great potential.

Compliance and Growth

Ripio had to comply with all of Florida’s financial regulatory requirements in order to operate in the state. The company is one of the few exchanges to have been audited by multiple Big Four firms, including PWC, KPMG and EY, and it is also registered with the Financial Crimes Enforcement Network (FinCEN).

Ripio, whose latest funding round raised $50 million in September 2021, managed to stay afloat and even grow during this downtrend in the cryptocurrency market which affected several crypto exchanges and lenders such as Celsius and Blockfi.

The company announcement its expansion into Colombia in April, stating that its operation would offer a financial education proposition. Later, in July, the company present an educational manual and released its own wallet compatible with the Web3 metaverse.

What do you think of Ripio’s expansion into the United States? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price spike happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at the social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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