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The company was established in Buenos Aires in 2013 by Sebastián Serrano, Luciana Gruszeczka and Mugur Marculescu; at launch it operated as BitPagos.[3] Early coverage described a merchant service to accept bitcoin and reported seed financing from venture investors, including figures associated with accelerator programs.[1][10][11][12] In 2015, BitPagos acquired Unisend, an Argentine exchange, which broadened its activities to exchange and trading services.[13][2][14]
In early 2017, the firm adopted the name Ripio and announced a US$1.9 million Series A round, positioning the change alongside a push toward consumer products in South America.[15][14][16]
Regional expansion and diversification (2018–2020)
In August 2018, Ripio began operating in Mexico, initially with a wallet product for local users.[17] The following year, trade outlets reported plans for an exchange rollout in Argentina, Brazil and Mexico, as well as an OTC desk for institutional clients.[18][3]
In January 2021, Ripio completed the acquisition of Brazil-based BitcoinTrade, described in contemporaneous coverage as one of the country’s larger exchanges by trading volume.[20][21][22]
In September 2021, the company announced a US$50 million Series B led byDigital Currency Group, reported by specialized media.[23][24]
In late 2022, Ripio disclosed its entry into theUnited States market via a Florida-registered entity focused on institutional services.[25][5][7]
In June 2023, Blockworks reported that Ripio had been registered to operate inSpain under theBank of Spain’s framework for certain virtual-asset service providers; the central bank’s guidance characterizes that register as related to anti–money laundering compliance rather than prudential supervision.[26][27][28]
During 2023 the company presented UXD, astablecoin pegged to the U.S. dollar, and in 2025 introduced wARS, a token linked to the Argentine peso, according to regional business media.[29][30][31][32]
Ripio offers consumer-oriented wallet and exchange services in several Latin American markets and in Spain, as noted in a 2022 Mastercard report. It also serves institutions and corporate clients.[4][6][8] In 2024, Reuters reported that Ripio would act as exchange and market maker forMercado Pago’s dollar-backed stablecoin in Brazil.[4][33]
Wallet and exchange: retail wallet and trading products available to end users.[4]
Institutional trading: an offering referred to as Select, highlighted in the context of the company’s U.S. expansion.[25][5][7]
Payment card: in 2022, Ripio launched a Visa-branded prepaid crypto card in Brazil; the product was later introduced in Argentina, according to crypto-focused outlets.[34][35]
Stablecoins: UXD (U.S. dollar–pegged) and wARS (Argentine peso–pegged).[29][31][32]
As it has expanded into multiple jurisdictions, Ripio has addressed varying local requirements for virtual-asset service providers, including registration and licensing obligations. In 2023 it received approval to operate in Spain through the Bank of Spain’s register for crypto services, a mechanism centered on anti–money laundering rules that does not constitute prudential oversight. Studies and reports frequently connect crypto adoption in Latin America with macroeconomic conditions such as inflation and a demand for stable-value digital assets.[26][27][28][9][4][6]
Circle: in 2020, Circle announced a collaboration with Ripio intended to broaden USDC usage in Latin America through Ripio’s platform.[36][37]
Mercado Pago (MercadoLibre): in 2024, Reuters reported that Ripio would function as exchange and market maker for Mercado Pago’s dollar-backed stablecoin in Brazil.[33]
Blockchain networks: announcements by Polygon and Algorand described integrations with Ripio for specific network features and assets.[38][39]
H2 Ventures and KPMG listed the company in the 2018 Fintech100 ranking, a distinction echoed by Argentine media at the time. In 2020, Ripio was selected for the World Economic Forum’s Technology Pioneers group.[2][40][19]
