Ripio, a Latin American (Latam) exchange headquartered in Argentina, raised $50 million in its latest funding round, led by Digital Currency Group (DCG). The exchange, which has a fortress in nations like Argentina and Brazil, will utilize these brand-new funds to more broaden to brand-new nations in the location and combine its area as one of the pioneering business in the crypto exchange organization.
Ripio Gets $50 Million in Series B Funding Round
Ripio, among the greatest cryptocurrency exchanges in Latam, has actually raised $50 million in its series B funding round, intending to keep growing in the area. The funding round was led by Digital Currency Group (DCG), the popular New York-based cryptocurrency equity capital company. The round likewise had the involvement of bitcoin financier Tim Draper, Amplo (financiers of Robinhood), Marcos Galperin (CEO of Mercado Libre), and Martin Migoya (CEO of Globant).
These funds will assist Ripio to keep growing its brand name in Latam, after having actually obtained Bitcointrade, of the most identifiable exchanges in Brazil, previously this year. The growth strategy of the exchange consists of more sealing its position in existing markets while likewise broadening to other nations like Colombia, Mexico, and Uruguay later on this year. About this, Ripio’s CEO, Sebastián Serrano, specified:
This statement is for us a natural action that enables us to continue broadening and combining our items in the area, with the objective of broadening access to the crypto world, constructing easy tools and providing quality info and resources to help with the course to the brand-new digital economy.
Crypto Is Still Fresh for Latam Markets
Ripio wishes to profit from how brand-new cryptocurrency is to Latam markets. Outside of already-saturated cryptocurrency fortress like Venezuela, Argentina, and Brazil, the area appears to be a particularly fertile ground for brand-new organization. Juan Mendez, brand name chief of Ripio, specified the business is preparing to reveal the acquisition of an exchange in Colombia. Colombia is a nation where some crypto companies have actually made inroads, however it is still in its preliminary phases when it concerns crypto use and adoption.
DCG is likewise positive that the exchange will keep growing in the future, admitting to the cryptocurrency environment to the underbanked in the area. Jason Yacavone, primary financial investment officer of Digital Currency Group, specified:
Ripio is an essential piece of the digital possession environment and its work is necessary to broaden access to monetary items throughout South America.
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