Blockchain
Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency
Sebastian Serrano, CEO of Ripio, one of Latin America’s largest cryptocurrency exchanges, affirmed that crypto is already being utilized by companies in Brazil and China as part of their regular payment flows. Serrano provided insights into how institutions in Latin America are leveraging crypto services, revealing that several unnamed Brazilian companies are using cryptocurrency to pay for supplies from China.
Serrano also disclosed that some Argentine companies are using cryptocurrency as a hedge against the country’s crippling inflation. Additionally, he highlighted the use of cryptocurrency for remittance transactions between the U.S. and Mexico.
In an interview with Valor Economico, Serrano expressed his belief that the future of cryptocurrency is tied to its use in capital markets. He stated:
“In the coming years, we will see companies start to finance themselves with cryptocurrencies. The capital markets of the future will be based on blockchain.”
Ripio has been expanding since 2022, announcing its entry into key markets like Colombia and the U.S. While retail trading fees currently constitute Ripio’s main income stream, Serrano aims to diversify by introducing payment and tokenization products for institutions. Furthermore, Ripio plans to launch new savings and loan products for retail investors to stabilize its income.
Serrano believes that corporate adoption could significantly impact crypto adoption and alter how exchanges perceive their revenue. He predicts that if crypto becomes mainstream for institutions, they could represent 80% of the company’s revenue by the end of this decade.
Source: news.bitcoin.com
The post Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency appeared first on HIPTHER Alerts.
The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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