Argentinian company Ripio takes over Brazil’s second largest crypto exchange

The Argentine crypto company Ripio has taken over the second largest crypto exchange in Brazil called BitcoinTrade.

Ripio, a digital asset company from Argentina, has bought the major Brazilian crypto exchange BitcoinTrade

According to the Argentine newspaper Ambito it came under the plan of Ripio to expand in South America, this acquisition . BitcoinTrade is the country’s second largest crypto exchange by volume.

Sebastián Serrano, the CEO and co-founder of Ripio, said it was acquired to „expand access to the world of digital assets“ in the region.

„We are convinced that Ripio is the best company to continue the path we started with BitcoinTrade in Brazil,“ said BitcoinTrade founder Carlos Andre Montenegro

Ripio was founded in 2013 and claims to be one of the largest crypto exchanges in South America. She has employees in Argentina, Brazil, Mexico, Uruguay and Spain. The company launched an over-the- counter crypto trading platform in 2019 and became one of the World Economic Forum’s tech pioneers last year .

In November, an Argentine legislature proposed creating a national framework for crypto in Argentina. The bill aims to solve the problem of the „very arbitrary rules“ governing Argentina’s crypto ecosystem.