The Ripio exchange increased its volume at least 5 times in 2020 compared to last year. Rocelo Lopes, from Stratum, assures that companies are more into Tether than in Bitcoin
2017 was one of the most successful years for Bitcoin in terms of growth and evolution: a market with historical records, the community multiplied, and all the media were talking about the cryptocurrency. However, the mythical 2017 could find its replacement by the inescapable success of 2020, or so Latin American exchange leaders perceive it this way.
Andrés Fleischer, Ripio’s director of operations, stated in a laBitconf panel dedicated to the purchase and sale of cryptocurrencies in Latin America that the adoption of bitcoin in 2020 exceeded by far the exchange’s expectations.
Fleischer talked about the current year as “even better than 2017”, as Ripio managed to increase its transaction volume five times more in comparison to 2019.
The exchange house also achieved a record in registered users, reporting almost a million people to its system. A large part of these clients appeared in the system during the last two months of 2020, says Ripio’s director of operations.
Bitso also reported new levels of use, going from 4.7 million dollars in trades per day in 2019 to a volume of 10.2 million dollars, all of this in 2020.
Eduardo Arenas, director of the Bitso Alpha platform, assured that the exchange managed to report up to 50 million dollars traded in bitcoin. “It has been a much better year than 2019,” he said, adding that user growth just kept ascending.
Guillermo Torrealba, director of Buda, said that the presence of business clients just increased on exchanges. Even when the majority of users are still natural persons, Torrealba affirms that the largest amount of bitcoin volume in Buda is because of the companies. Rocelo Lopes, CEO of Stratum, agrees with these numbers, stating that Brazilian companies move more than 70% of transactions on the platform.
In the case of Stratum, institutional clients represent only 5% of all users in this market. Likewise, together with Torrealba, they highlighted that in 2017 very few companies worked with bitcoin, it was natural for people to the interested ones in cryptocurrency.
An interesting feature that Rocelo Lopes highlighted in the presentation is that most companies prefer to acquire Tether before Bitcoin. Contrary to the new narrative that investors and institutional firms are filling their pockets with bitcoins.
Lopes states that companies that use cryptocurrency exchanges tend to show more interest in stablecoins because it allows them to carry out remittance operations internationally.
The cryptocurrency market in Latin America is in full growth and keeps growing higher, reaching a noticeable status by exporting both services outside the region and receiving new offers from foreign exchanges.
The commercial movement is allowing the creation of a very robust and solid ecosystem, where an empowered and trusted community stands out in countries such as Brazil and Argentina, declares Andres Fleischer.it seems that 2021 promises to be a year of even more growth evolution and effectiveness.
By: Jenson Nuñez.
