Argentinian Exchange Ripio Raises $50 Million in Latest Funding Round Led by DCG

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Ripio, a Latin American (Latam) speech headquartered successful Argentina, raised $50 cardinal successful its latest backing round, led by Digital Currency Group (DCG). The exchange, which has a stronghold successful countries similar Argentina and Brazil, volition usage these caller funds to further grow to caller countries successful the country and consolidate its spot arsenic 1 of the pioneering companies successful the crypto speech business.

Ripio Gets $50 Million successful Series B Funding Round

Ripio, 1 of the biggest cryptocurrency exchanges successful Latam, has raised $50 cardinal successful its bid B backing round, aiming to support increasing successful the region. The backing circular was led by Digital Currency Group (DCG), the celebrated New York-based cryptocurrency task superior firm. The circular besides had the information of bitcoin capitalist Tim Draper, Amplo (investors of Robinhood), Marcos Galperin (CEO of Mercado Libre), and Martin Migoya (CEO of Globant).

These funds volition assistance Ripio to support increasing its marque successful Latam, aft having acquired Bitcointrade, of the astir recognizable exchanges successful Brazil, earlier this year. The enlargement program of the speech includes further cementing its presumption successful existent markets portion besides expanding to different countries similar Colombia, Mexico, and Uruguay aboriginal this year. About this, Ripio’s CEO, Sebastián Serrano, stated:

This announcement is for america a earthy measurement that allows america to proceed expanding and consolidating our products successful the region, with the ngo of expanding entree to the crypto world, gathering elemental tools and offering prime accusation and resources to facilitate the way to the caller integer economy.

Crypto Is Still Fresh for Latam Markets

Ripio wants to capitalize connected however caller cryptocurrency is to Latam markets. Outside of already-saturated cryptocurrency strongholds similar Venezuela, Argentina, and Brazil, the portion seems to beryllium an particularly fertile crushed for caller business. Juan Mendez, marque main of Ripio, stated the institution is preparing to denote the acquisition of an speech successful Colombia. Colombia is simply a state wherever immoderate crypto firms person made inroads, but it is inactive successful its archetypal stages erstwhile it comes to crypto usage and adoption.

DCG is besides assured that the speech volition support increasing successful the future, giving entree to the cryptocurrency ecosystem to the underbanked successful the region. Jason Yacavone, main concern serviceman of Digital Currency Group, stated:

Ripio is an important portion of the integer plus ecosystem and its enactment is indispensable to grow entree to fiscal products passim South America.

What bash you deliberation astir Ripio’s latest backing round? Tell america successful the comments conception below.

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