New cryptocurrency exchange and OTC market launched in Latin America

Ripio, a Latin American cryptocurrency exchange, has started its operations as a trading platform and as an over-the-counter (OTC) table for institutional investors, according to a press release.

Ripio is looking to launch a credit system of equals with smart contracts of Ethereum under the name of Ripio Credit Network
Ripio is looking to launch a credit system of equals with smart contracts of Ethereum under the name of Ripio Credit Network
Image by Alina Kuptsova from Pixabay

Ripio is a new platform through which customers in Brazil, Argentina and Mexico can exchange cryptocurrencies to fiat money, enjoy digital banking services and apply for loans through blockchain.

Sebastian Serrano, CEO, and founder of the firm said it is a company that will expand the horizons of the population in Latin America, which can protect their savings from constant devaluation:

"The cryptocurrency, and our new platform, in particular, offers new investment horizons for all segments of the population. This is especially important in Latin America, where savings must be protected against the constant devaluation of the local currency."

Serrano's comments coincide with the information on the official website of the firm, where financial inclusion in Latin America is the main objective:

"Our main objective is to expand financial inclusion and democratize the digital economy in Latin America, offering digital payment alternatives available to all."

They also provide basic information on its blog, defining everything from Bitcoin and Ethereum to the procedures for trading on your platform.

Ripio was founded in 2013 and is made up of a group of entrepreneurs, developers, and finance experts. It carried out an initial offer of currencies (ICO) at the end of 2017, in which it raised more than USD 37 million destined to launch a credit system of equals with smart contracts of Ethereum under the name of Ripio Credit Network.

The company claims to be the largest in the digital asset sector in Argentina and continues its expansion process to other South American countries such as Colombia, Peru, Chile, Paraguay, and Uruguay.

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