Categories: Finance

Latin American exchange Ripio received a license to operate in the US

One of the largest cryptocurrency exchanges in Latin America, Ripio has announced the expansion of its activities in the United States. The company received a license from the Florida Financial Regulatory Authority.

The choice of the state is due to the fact that, according to the management of Ripio, Florida is the center of cryptocurrencies in the country. The license will allow the exchange to provide US citizens with exchange services, a custodial wallet, and a Web3 wallet.

The company will initially roll out its Select platform in the state, focused on helping startups and institutional investors get started in the cryptocurrency industry. Later, Ripio will launch other services.

Ripio launched the exchange of the same name in the spring of 2019. It now serves over 4.5 million customers throughout the Latin American region. In September last year, the exchange managed to raise $50 million in funding.

Notably, Ripio was one of the few companies to be audited by the financial auditors of KPMG, PWC, EY, and the Financial Crime Enforcement Network (FinCEN).

Earlier, the Argentine authorities reported that the unrecorded income of digital asset owners amounted to more than $1 billion and demanded that citizens make clarifications in their tax returns.

Source: Bits

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