Ripio, a Latin American crypto company, approved to operate as an exchange in Spain.
The Latin American cryptocurrency services provider, Ripio, announced on Tuesday that it has obtained approval from the Bank of Spain to offer virtual currency exchange services for fiat currency and digital wallet custody. “After much hard work, Ripio is finally approved to operate in Spain,” said Sebastián Serrano, CEO of Ripio, in a tweet. Bit2Me was the first company in the sector to receive a crypto license from the Bank of Spain, followed by Bitpanda, Crypto.com, Bitstamp, and BVNK.
Ripio, which was founded in Argentina and also operates in Brazil, Uruguay, Colombia, Chile, Mexico, and the United States, has 8 million users who transact $200 million per month, according to the company. In June, Ripio was part of the launch of LaChain, a new layer one blockchain created using the Polygon Supernets platform, focused on responding to specific needs in Latin America and maintained by regional companies such as SenseiNode, Num Finance, Cedalio, and Buenbit. In September 2021, the company raised $50 million in a Series B funding round to expand in Latin America. Edited by Stephen Alpher.