Specifically, the initiative to buy BitcoinTrade is reportedly a part of a larger Ripio’s plan to expand its footprints throughout South America. BitcoinTrade reportedly secured the 2nd spot on the list of biggest crypto exchanges across Brazil, volume-wise.
Co-founder and current Head of Ripio – Sebastián Serrano – reportedly remarked that the purchasing initiative is a bid for “expanding access to the world of digital assets” across the area.
“We are convinced that Ripio is the best company to extend the path we are building with BitcoinTrade in Brazil,” BitcoinTrade founder Carlos Andre Montenegro also stated regarding the development.
Established 7 years ago in 2013, Ripio reportedly prides itself in being among the largest crypto exchange platforms throughout South America, with its staff located across different nations on different continents – Argentina, Brazil, Mexico, Uruguay and Spain.
Last year, the firm reportedly made a crypto trading platform available, which comes with facilitating features for over-the-counter services, which has also secured the title of the World Economic Forum’s Tech Pioneers, along with other entities, also in 2019.
In November 2020, a lawmaker from Argentina reportedly came up with a proposal for a new regulation, to establish a countrywide framework for crypto in the nation. The bill reportedly primarily looks to deal with “very arbitrary rules” controlling Argentina’s crypto ecosystem.