Share this article
Ripio Closes $37 Million ICO for Ethereum Lending Network
Ripio's peer-to-peer lending platform uses smart contracts to reduce lender risk and increase lending in the developing world.
By Brady Dale
Updated Sep 13, 2021, 7:07 a.m. Published Nov 6, 2017, 7:05 p.m.
Blockchain startup Ripio has raised $37 million in an initial coin offering (ICO).
Originally known as BitPagos, the company (which rebranded early this year) had previously raised $31 million during a presale, which included backing from FBG Capital and Blocktower Capital, among others. Investors from 25 countries participated in the two rounds, contributing a total of 121,300 ETH, according to the startup. The sale closed on November 5.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The RCN whitepaper indicates that 42.5 percent of the tokens would be dedicated to a pre-sale maximum, with 8.5 percent set aside for a public sale minimum. The remaining 49 percent were reserved for operational needs, such as incentives, marketing and expenses.
"The original idea of Ripio Credit Network was to widen financial inclusion by extending credit lending globally," CEO Sebastian Serrano said in a press release. "The support, not only for our platform but for our mission, is truly inspirational and an unforgettable benchmark in the evolution of the lending infrastructure."
The Ripio Credit Network will serve as a peer-to-peer lending platform, using the token and its associated smart contracts to secure each loan. The system will ultimately capture all of the parties involved in every loan made, including a co-signer on each loan. The cosigner takes on the role of a reinsurer, agreeing to repayment of the loan – under the terms of the smart contract – should the borrower default.
The company's existing loan portfolio includes 130,000 registered users in Argentina and Brazil. It is currently working on partnerships in places in Mexico, South Korea and Vietnam.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripio.
Cluster of marbles image via Shutterstock.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
