From Poverty to Completing a $37 Million ICO - Sebastian Serrano

From Poverty to Completing a $37 Million ICO - Sebastian Serrano

The rise of crypto and blockchain startups has brought us many inspiring stories. The story of Sebastian Serrano is one of those, for sure.

Serrano is the CEO and co-founder of Ripio Credit Network. The company, formerly known as Bitpagos, is one of the oldest crypto companies in the world, specialized in providing electronic payment solutions in Latin America. In 2013, the company launched the first Bitcoin payment processor.

Sebastian Serrano, CEO and co-founder of Ripio

A few years later, it rose to prominence as the world’s first crypto wallet which enabled online credit services. In 2017, Ripio raised around $37 after a successful ICO. This year, finally, the company launched its first financial product, breaking the trend of successful ICOs failing to deliver to their promises.

Today, Ripio has more than 250,000 users.

However, not everything was that peaches and cream for Serrano. In his interview with Forbes, he recalls the struggling days of his native Argentina, where he witnessed three economic collapses. He also talks about his parents’ struggle to put the food on the table during the period of economic crisis.

Coming back to today, Ripio isn’t just the conventional company operating in the financial industry. As a result of his difficult childhood, Serrano says that “objective has always been to extend financial solutions to every segment of the population in Latin America, especially those historically left aside by the traditional banking system”.

The company’s main product is Ripip wallet, which is more focused on consumers than merchants. Apart from the traditional services that the wallet offers, such as cryptocurrency brokerage, it also offers mobile phone top-ups, credit services, and utility payments.

Finally, Serrano is also noting an important trend unraveling in Latin America.

“Most people are used to buying dollars to protect their savings against the local currencies’ constant devaluation, and they’ve been doing the same thing with bitcoins. Now they’re experimenting with stablecoins and the feedback has been great so far”.

As one of the oldest blockchain-based startups in Latin America, Ripio is still well-positioned to continue revolutionizing the financial and banking industry in the region.

Header Image Source: Noam Galai/Getty Images North America
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