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.”

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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.

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