The year of 2009, it was the first time when Blockchain technology emerged with a cryptocurrency called Bitcoin. The world witnessed the strength of it. In fact, many saw the destiny of financial sectors in cryptocurrency. However, when Bitcoin boomed in Argentina it got more exposure. Because it was the years when the country was midmost of one more financial crisis.
At that time, many Bitcoin-based start-ups were rises all over the world, especially in Latin America. Perhaps, only a couple of start-ups could stand in the business. BitPagos Inc. is one of such a milestone of blockchain-based company, which is founded in 2013. But in a very short duration, it changed the scenario of the financial situation in Latin America. Today, BitPagos is helping numerous users and traders in Argentina. Also, it brags over 3 lakhs users in Latin America.
What is BitPagos Inc?
BitPagos is the Bitcoin and electronics payments-based start-up in Buenos Aires, Argentina. It was co-founded by Sebastian Serrano in 2013. Presently, it is one of the oldest blockchain-based company in the world. BitPagos was at the battlefield final at TechCrunch Disrupt New York in 2016. That time, the company marked the new beginning of the Cryptocurrency age.
The company starts the new chapter of Blockchain technology in 2017, with a new name Ripio Credit Network. As a matter of fact, Ripio is the Spanish word for gravel. Which literally means, the raw material to build roads. Apparently, the company is building the roads for the digital economy in Latin America.
How BitPagos stand different from other Bitcoin Start-ups?
We know that credit card is the best option for online purchasing. But bank accounts are must to have credit cards. However, it is very difficult in the Latin American region, where very few persons have credit cards. Also, one-half of the adults in Argentina, and other parts of Latin America don’t have bank accounts yet.
For the first time in a world, BitPagos enables the non-banking credits using blockchain technology. It’s a big step to promote financial inclusion in the sphere, which was tolerating the series of financial crises over the decades.
Sebastian Serrano- Mastermind of BitPagos
Sebastian Serrano is a software developer. He is also famous as a serial entrepreneur in Argentina. Currently, he is the CEO and co-founder of BitPagos, which is today known as the Ripio Credit Network.
Early Life
He grew up in Choele Choel, Rio negro, Argentina. Since the teenage, Sebastian was fascinated by programming and start-ups. In fact, he started programming at the age of 7. Sebastian was an intelligent kid. During the high school day, he helped to build the first Internet Service Provider of his hometown in Patagonia.
Earlier Achievements
Before redefining the cryptocurrency age, he was a software developing entrepreneur. He founded a software development consulting firm, familiar as devsAr.com. Also, he worked for the Ministry of Finance, Argentina. Later, he founded the company BitPagos, which is one of the successful bitcoin start-ups.
Inspiration for founding BitPagos
Sebastian witnessed the three economic collapses in Argentina. During that period, he saw the struggle of his parents to feed the family. He lived among those people, who are still apart from conventional banking. Also, he was intimate with the difficulties people have to face for trade and to keep their savings.
Thus, his objective has always been to promote financial inclusion all over Latin America. Exclusively, covering the region historically left away by the traditional banking system.
Triumph of BitPagos (Ripio)
BitPagos launched the Bitcoin processor in 2013. It was the time when blockchain technology just came out of the eggshell. Afterward, the company launched the crypto wallet, which first time enabled online credit services. Ripio wallet is the main product of the company which offers many services. Like utility payments, mobile phone top-ups, cryptocurrency brokerages, and other traditional wallet services. In addition, provides credit services using digital currency.
Later Successes
Currently, the company is working to run real-world fiat on-ramps in Argentina. Also, to encourage convenience stores to sell small amounts of bitcoin. As for now, around 8000 stores are active across the country. Today, Ripio has more than 250,000 users. Furthermore, it aims to expand the services into Mexico, Brazil, and other regions of the world.
Ripio, formerly BitPagos is the best example of an innovative start-up, which has marked the beginning of a new digital economy.
Jayshri is an Electronics Engineer, but her passion towards writing made her to be in this field. Apart from content writing, she loves reading, writing and surfing on various topics. In her free time, she likes to watch TV series and news. Sherlock Holmes is her all time favorite show. Jayshri loves cooking various Indian-western dishes.