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Brazil’s Second Largest Cryptocurrency Exchange Acquired by Argentina’s Ripio

Following the amount of success and adoption of the cryptocurrency industry in North American, countries from South America are also in action. The countries from South America are also trying to gain as much adoption and recognition as the US and Canada.

Therefore, countries such as Argentina, Mexico, Chile, and Brazil have now come in action. These countries have now started adopting cryptocurrency technology in the masses. Every day there is an announcement of a cryptocurrency exchange or firm launching in the respective countries.

If it is not a launch, then it is an acquisition made by one exchange of another that can either be local or international.

Just recently, Ripio has made an announcement that goes onto showing how serious Argentina is about the adoption of cryptocurrencies. Ripio is a prominent digital asset company that is based in Argentina and is very enthusiastic about expanding its services in other countries.

Ripio has recently announced that it has successfully struck a deal with the Brazilian cryptocurrency exchange. The result of the deal is that it has actually purchased the particular Brazilian exchange in the process. The name of the exchange is BitcoinTrade that is based in Brazil and it is the second-largest crypto-exchange in the country.

One of the local news firms Ambito, the acquisition of BitcoinTrade by Ripio is the first step that the Argentinian company has taken. With the acquisition of the exchange, Ripio is going to expand the circle of its services in Brazil with more products and innovation.

Ripio is confident that it will not be taking it very long to cement its footing in the Brazilian crypto-industry. Once that is done, the digital asset company will go onto expanding its services and facilities in the entire South American region.

The co-founder and CEO of Ripio Sebastian Serrano also talked about the importance of acquiring BitcoinTrade. He stated that by acquiring exchanges such as BitcoinTrade, Ripio is ensuring that entire South America gets exposed to the world of digital assets.

He stated that they have full confidence in the capabilities and potential of the teams that are working at Ripio and they have the same expectations as the teams at BitcoinTrade.

According to the higher management and stakeholders, acquiring BitcoinTrade is one of the most crucial and key decisions they have made in expanding their services in South America.

Ripio was founded back in 2013 and claims to be one of the oldest and the largest cryptocurrency exchanges in the entire South American region. At present, Ripio has its operations based in Brazil, Uruguay, Spain, Mexico, and Argentina.

Back in 2019, Ripio had launched an over-the-counter services cryptocurrency trading platform. As a result, the exchange was named as one of the Tech Pioneers at the World Economic Forum.

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