Ripio, a Latin American crypto services provider, has been granted approval from the Bank of Spain to operate as a provider of virtual currency exchange services for fiat currency and custody of digital wallets, the company announced Tuesday. CEO Sebastián Serrano expressed his excitement in a tweet, saying After much hard work, Ripio finally approved to operate in Spain. Bit2Me was the first company in the sector to receive a crypto license from the Bank of Spain, with Bitpanda, Crypto.com, Bitstamp, and BVNK following suit.
Ripio, which operates in Argentina, Brazil, Uruguay, Colombia, Chile, Mexico, and the United States, has 8 million users who transact $200 million per month, the company stated. In June, Ripio was part of the launch of LaChain – a new layer one blockchain created using the Polygon Supernets platform, focused on responding to specific needs in Latin America and maintained by regional companies. In September 2021, the company raised $50 million in a Series B funding round to expand in Latin America.
Quotes: After much hard work, Ripio finally approved to operate in Spain, and Ripio has 8 million users who transact $200 million per month.