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Argentina’s Ripio acquires Brazil’s second-largest crypto change


Argentinian crypto agency Ripio has acquired Brazil’s BitcoinTrade, Brazil’s second-largest change by quantity.

Ripio, a digital asset firm primarily based in Argentina, has bought main Brazilian crypto change 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 change within the nation by quantity.

Ripio CEO and co-founder Sebastián Serrano mentioned it made the acquisition to “broaden entry to the world of digital property” 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 workers primarily based 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 offer a nationwide framework for crypto within the nation. The invoice is meant to handle “very arbitrary guidelines” governing Argentina’s crypto ecosystem.