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- Ripio, a financial payments company that offers electronic payment solutions for businesses in Latin America, is all set to launch in Florida, its very first attack into the United States.
- The company has got regulatory approval so far to initiate functions in the state with Ripio Select. The proposal is aimed at firms, institutional investors and high net worth persons.
Ripio has about 4.5 million users and is going on a period of 10 years in business. Also, it has more than 600 clients in the area. The chief executive officer and co-founder, Sebastian Serrano, gave a statement in which he revealed that “we went for Florida as it is a very fascinating crypto hub, and we trust our products, such as Ripio Select, have no end of potential.”
Especially, Florida and Miami have put their efforts into influencing the crypto space. At the beginning of this year, Gov. Ron DeSantis signed a bill explaining and restructuring cryptocurrency, initiating January 1.
Miami Mayor Francis Suarez interacted with the Miami Herald in July and stated that he is still centered on creating the city a crypto capital and was transferring 100% of his city salary into Bitcoin.
Ripio had to obey all the needs of Florida’s financial regulations to be capable of functioning in the state. The firm is among the few exchanges that have got audited by many big four companies, such as PWC, KPMG and EY, and it is also listed with the Financial Crimes Enforcement Network (FinCEN).
Growth, reliability and potential of the company
The company had its funding round that generated $50 million in September 2021; also, it managed to keep floating and even grow at the time of the crypto market collapse that has influenced various crypto exchanges such as Celsius and FTX.
Prior to this, the firm publicized its growth in Colombia in April, claiming that its work would give financial education offers. After this, in July, the firm introduced an educational textbook and issued its own metaverse Web3-enabled wallet.
The publicization of the news that the company will also run in the United States and the latest association with Mercado Livre in Brazil, in which the company proposes technological back for the function of the Mercado Coin token, is undoubtedly a very big achievement of the firm in this year. It somehow demonstrates its growth, reliability and potential in the crypto world all over the world.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
