Cryptoservices startup Ripio raises $50 million Digital Cur | DeFi Protocol

Cryptoservices startup Ripio raises $50 million

Digital Currency Group (DCG) led the funding round, and additional investors included venture capital firms Amplo, Draper Ventures and Boost VC. MercadoLibre CEO Marcos Galperin and Globant CEO Martin Migoya also participated as individual investors. The company confirmed the funding round.

Ripio offers various services such as wallet and cryptocurrency exchange. According to brand director Juan Jose Mendez, the company intends to use the funds to further develop its products and teams, as well as to expand its international expansion.

Ripio, which bought Brazil's second-largest cryptocurrency exchange in January, has been planning to expand into other key markets in the region for some time. Today the company has two million users in Argentina and Brazil.