Ripio, a digital asset firm primarily based in Argentina, has bought main Brazilian crypto change BitcoinTrade.

Based on Argentine newspaper Ambito, the acquisition is a part of Ripio’s plan to unfold throughout South America. BitcoinTrade is reportedly the second-largest crypto change within the nation by quantity.

Ripio CEO and co-founder Sebastián Serrano stated it made the acquisition to “develop entry to the world of digital property” within the area.

“We’re satisfied that Ripio is the perfect firm to increase the trail we’re constructing with BitcoinTrade in Brazil,” stated BitcoinTrade founder Carlos Andre Montenegro.

Based in 2013, Ripio claims to be one of many largest crypto exchanges in South America, with workers primarily based in Argentina, Brazil, Mexico, Uruguay and Spain. The corporate launched a crypto buying and selling platform with over-the-counter companies in 2019, and was named as one of many World Financial Discussion board’s Tech Pioneers final yr.

In November, an Argentine lawmaker proposed laws to offer a nationwide framework for crypto within the nation. The invoice is meant to deal with “very arbitrary guidelines” governing Argentina’s crypto ecosystem.