Ripio

Ripio is a Latin American cryptocurrency exchange that provides a range of crypto-related services, including a trading platform, an over-the-counter (OTC) desk, and a mobile app. The company has been operational since 2013 and has grown to have over 10 million users across eight countries in the Americas and Europe, including the US, as of May 2024.

Ripio's core offerings revolve around facilitating the adoption and use of cryptocurrencies. It allows users to buy, sell, and trade various digital assets, including Bitcoin, Ethereum, and its own stablecoin called UXD (Criptodólar), which is pegged to the US dollar. The UXD stablecoin was launched in August 2023 and is hosted on LaChain, a Latin America-focused blockchain developed by Ripio in collaboration with several other companies.

In addition to its retail trading services, Ripio has expanded its focus on providing crypto-related solutions for businesses. These include payment and tokenization products, enabling companies to leverage cryptocurrencies for international transactions, hedging against inflation, and remittance transfers. As of May 2024, Ripio has over 1,000 business clients utilizing its services.

To further its mission of increasing crypto accessibility, Ripio has introduced various products, such as the Ripio Card, a prepaid debit card launched in Brazil in August 2022 in partnership with Visa. The card allows users to make payments using cryptocurrencies and earn cashback rewards in Bitcoin. Ripio also developed the Mercado Coin cryptocurrency for Latin American ecommerce giant Mercado Libre and provides custody and trading services for it.

In September 2021, Ripio raised USD 50 million in a Series B funding round led by Digital Currency Group (DCG) to accelerate its regional expansion plans. The company has since expanded its operations to several new countries, including Colombia, Mexico, Uruguay, and Spain, where it obtained a license to operate as a digital asset exchange in June 2023.