Ripio, a leading cryptocurrency exchange and digital wallet provider in Latin America, has received backing from two major players in the region’s financial industry to expand its services into Chile and Colombia. The company announced on June 22, 2021, that it had secured investments from Mercado Pago, the payment platform of Argentine e-commerce giant MercadoLibre, and FinZi, a Chilean fintech firm.
The investment will enable Ripio to accelerate its growth plans in the two countries, where it already has a presence. The company aims to become the leading provider of cryptocurrency services in the region, offering users a secure and easy-to-use platform for buying, selling, and storing digital assets.
Ripio was founded in 2013 and has since grown to become one of the most trusted and reliable cryptocurrency exchanges in Latin America. The company’s mission is to democratize access to financial services by leveraging the power of blockchain technology. Its platform allows users to buy and sell Bitcoin, Ethereum, and other cryptocurrencies using local currencies such as Argentine pesos, Brazilian reals, and Mexican pesos.
With the backing of Mercado Pago and FinZi, Ripio is well-positioned to expand its reach and offer its services to more users in Chile and Colombia. Mercado Pago is one of the largest payment platforms in Latin America, with a presence in 18 countries. Its investment in Ripio is a testament to the growing interest in cryptocurrencies among traditional financial institutions.
FinZi, on the other hand, is a Chilean fintech firm that specializes in providing financial solutions to small and medium-sized enterprises (SMEs). The company’s investment in Ripio is part of its strategy to diversify its portfolio and offer its clients access to new financial products and services.
Ripio’s expansion into Chile and Colombia comes at a time when cryptocurrencies are gaining popularity in the region. According to a recent survey by Statista, the number of cryptocurrency users in Latin America is expected to reach 12.3 million by the end of 2021, up from 7.1 million in 2020. This represents a significant opportunity for Ripio to tap into a growing market and establish itself as a leader in the space.
In conclusion, Ripio’s partnership with Mercado Pago and FinZi is a significant milestone for the company and the cryptocurrency industry in Latin America. The investment will enable Ripio to expand its services and reach more users in Chile and Colombia, while also demonstrating the growing interest in cryptocurrencies among traditional financial institutions. As the adoption of cryptocurrencies continues to grow in the region, Ripio is well-positioned to capitalize on this trend and become a leading provider of digital financial services.
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