Latin America Based Start-up Ripio Introduces OTC Desk & Cryptocurrency-Fiat Exchange
There is a piece of good news for all the crypto enthusiasts based in the Latin America region. As per the latest reports, a digital currency start-up Ripio has announced to launch a crypto trading platform along with an OTC i.e., Over the Counter trading desk. The news was made public by Ripio on 16th May 2019 when the company shared an official press release detailing their endeavor.
With this new trading platform, the crypto community-based in Argentina, Mexico, and Brazil will be benefitted greatly. The platform will allow users to trade their digital currencies to fiat, utilize digital banking services, as well as request blockchain-backed loans.
What’s more fascinating is the steps taken by Ripio to make trading easier for first-time traders. Its freshly announced new exchange will be allowing the first time traders to buy as well as sell digital assets for fixed prices only. Apart from that, there will also be educational resources in the form of podcasts, video tutorials, forums, and blog posts, that will guide the new users about how trading in digital currency actually works. In order to make things simpler, the platform will furnish basic information as well about each digital asset available on the exchange.
The OTC desk, which is a part of the new platform, will cater to the institutional investors. The desk would also fulfill the real world demand for trading in the South American region, much like LocalBitcoins. LocalBitcoins is one of the widely popular trading platforms in South America that enables users to carry out face-to-face digital exchanges.
Sebastian Serrano, the CEO, and Founder of Ripio came forward to share his thoughts on the company’s newest product launch. Serrano stated that digital currency and their just launched platform will provide people from all sections of the society with yet another investment option. He was quick to add that the introduction of such a platform is all the more necessary, primarily in places like Latin America, wherein people need to protect their savings against the continuous local currency devaluation.
Ripio was established in the year 2013 and is considered to be one of the biggest digital asset firms in Argentina. The company is also undergoing expansion at present in several countries in South America, such as Chile, Peru, Colombia, Paraguay, and Uruguay. Ripio had also successfully garnered positive attention in 2017 by completing an ICO to launch a peer-to-peer credit network known as Ripio Credit Network. This network is based on the smart contracts of Ethereum. With its ICO, the company had raised over 37 million dollars at the time.
How this latest trading platform, along with the OTC desk will be received by Latin American crypto traders, remains to be seen.