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.
Make us preferred on Google
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
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
