Bank of Spain Grants Latest Licenses to Crypto Companies
Ripio Secures Bank of Spain Approval for Virtual Currency Exchange and Custodial Services.
Ripio CEO, Sebastián Serrano, expressed his excitement on Twitter as Ripio received approval to operate in Spain after significant effort. Bit2Me, a prominent Spanish crypto exchange, was the first to obtain a crypto license from the Bank of Spain.
Following suit, Bitpanda, Crypto.com, Bitstamp, and BVNK have also received approval to operate in the country. These developments highlight the growing acceptance of crypto companies and the expanding cryptocurrency landscape in Spain.
Ripio, originally founded in Argentina and currently operating in multiple countries including Brazil, Uruguay, Colombia, Chile, Mexico, and the United States, boasts a user base of 8 million. According to the company, these users collectively transact $200 million per month.
Ripio’s widespread presence and substantial user activity illustrate its significant presence in the crypto space across various Latin American and North American markets.
In June, Ripio participated in the launch of LaChain, a layer one blockchain developed on the Polygon Supernets platform. LaChain aims to address specific requirements in Latin America and is maintained by regional companies like SenseiNode, Num Finance, Cedalio, and Buenbit. This collaborative initiative demonstrates Ripio’s involvement in the development of innovative blockchain solutions tailored to the Latin American market, in partnership with other local organizations.
In September 2021, Ripio secured $50 million in a Series B funding round with the objective of expanding its presence in Latin America. The successful funding round provides Ripio with the necessary resources to enhance its operations and services throughout the region.
This investment underscores the confidence and support from investors in Ripio’s growth potential and its ability to further strengthen its position in the Latin American crypto market.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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