Ripio, a digital asset firm based mostly in Argentina, has bought main Brazilian crypto trade BitcoinTrade.
In line with Argentine newspaper Ambito, the acquisition is a part of Ripio’s plan to unfold throughout South America. BitcoinTrade is reportedly the second-largest crypto trade within the nation by quantity.
Ripio CEO and co-founder Sebastián Serrano mentioned it made the acquisition to “develop entry to the world of digital belongings” within the area.
“We’re satisfied that Ripio is one of the best firm to increase the trail we’re constructing with BitcoinTrade in Brazil,” mentioned BitcoinTrade founder Carlos Andre Montenegro.
Based in 2013, Ripio claims to be one of many largest crypto exchanges in South America, with staff based mostly in Argentina, Brazil, Mexico, Uruguay and Spain. The corporate launched a crypto buying and selling platform with over-the-counter providers in 2019, and was named as one of many World Financial Discussion board’s Tech Pioneers final 12 months.
In November, an Argentine lawmaker proposed laws to supply a nationwide framework for crypto within the nation. The invoice is meant to deal with “very arbitrary guidelines” governing Argentina’s crypto ecosystem.