Ripio is an Argentine financial technology company focused on cryptocurrencies. Founded in Buenos Aires in 2013 as BitPagos, the company began as a bitcoin payments processor before expanding into a cryptocurrency exchange, consumer wallet products, and services for institutional clients.
The company was established in Buenos Aires in 2013 by Sebastián Serrano, Luciana Gruszeczka and Mugur Marculescu, operating at launch under the name BitPagos.
In 2015, BitPagos acquired Unisend, an Argentine bitcoin exchange, adding exchange and trading services to its offering.
In early 2017, the company rebranded as Ripio and closed a US$1.9 million Series A round. Later that year, in November 2017, Ripio raised US$37 million through an initial coin offering (ICO) for the Ripio Credit Network, a peer-to-peer lending platform built on Ethereum smart contracts.
In August 2018, Ripio began operating in Mexico, initially offering a wallet product to local users. In 2019, CoinDesk and CoinTelegraph reported that the company planned to launch a crypto-to-fiat exchange in Argentina, Brazil and Mexico, along with an OTC desk for institutional clients.
In June 2020, the World Economic Forum included Ripio in its Technology Pioneers cohort.
Ripio completed its acquisition of BitcoinTrade in January 2021. The Brazilian exchange was at that time one of the country's largest by trading volume.
In September 2021, The Block and CoinDesk reported that the company had raised US$50 million in a Series B led by Digital Currency Group.
In late 2022, Ripio announced its entry into the United States market through a Florida-registered entity focused on institutional services.
In June 2023, Blockworks reported that Ripio had been registered to operate in Spain under the Bank of Spain's framework for certain virtual-asset service providers; Bank of Spain guidance describes that register as focused on antiâÂÂmoney laundering compliance rather than prudential supervision.
In 2023 the company launched UXD, a stablecoin linked to the U.S. dollar, and in 2025 introduced wARS, a token linked to the Argentine peso.
Ripio offers digital wallet and trading platform services to consumers across multiple Latin American countries and Spain, according to a 2022 Mastercard report, and also serves institutional and business customers. In 2024, Reuters reported that Ripio would act as exchange and market maker for Mercado Pago's dollar-backed stablecoin in Brazil.
Ripio's consumer products include a digital wallet and trading platform; the company has also operated an institutional and OTC offering, reported in connection with its U.S. expansion. In 2022, CoinDesk reported that Ripio launched a Visa-branded prepaid crypto card in Brazil; later coverage reported the product's introduction in Argentina. The company has also launched two stablecoin products, UXD and wARS.
As Ripio expanded into multiple jurisdictions, reporting has referenced local registration or licensing requirements for virtual-asset service providers. In Spain, coverage linked Ripio's approval to the Bank of Spain register for crypto-asset exchange and custody providers, which Bank of Spain guidance frames as an antiâÂÂmoney laundering register rather than prudential supervision.
In 2020, Circle announced a collaboration with Ripio aimed at supporting USDC usage in Latin America. Reuters reported in 2024 that Ripio would serve as exchange and market maker for Mercado Pago's dollar-backed stablecoin in Brazil. Polygon and the Algorand Foundation have also published announcements describing integrations with Ripio.
H2 Ventures and KPMG listed the company in the 2018 Fintech100 ranking, and in 2020 the World Economic Forum selected Ripio for its Technology Pioneers group.