Rio: Simplifying Crypto Transactions for LATAM
- Founded in 2022 by Eudelio Garza, Javier Roberts, and Ricardo Villarreal Chapa, Rio aims to simplify cryptocurrency transactions in LATAM.
- Rio supports virtual asset transactions through local operations, payment methods, banking relationships, and regulatory compliance.
- Funding: Rio secured undisclosed seed funding from Pioneer Fund in August 2022.
Rio aims to simplify cryptocurrency transactions in Latin America by helping individuals and businesses buy and sell virtual assets through local payment methods and regulated operations.
The company says users can buy and sell virtual assets in five minutes. Its offering includes local payment options, domestic banking rails, AML procedures, and APIs for integrating crypto payments into existing applications.
Rio’s founding story
Founded in 2022, Rio was started by Eudelio Garza, Javier Roberts, and Ricardo Villarreal Chapa.
Eudelio Garza is the company’s CEO. Before Rio, he worked at BlockVigil, where he identified a need for improved on-and-off-ramping infrastructure. Javier Roberts and Ricardo Villarreal Chapa brought engineering and finance expertise to the company.
Mission and value proposition
Rio’s mission is to make buying and selling virtual assets easier and more efficient for individuals and businesses.
The company operates across LATAM with local operations, payment options, and regulatory infrastructure. Rio also uses banking relationships to optimize liquidity networks and support faster, more cost-effective transactions.
Rio’s features for crypto transactions
One of Rio’s key strengths is its AML, or Anti-Money Laundering, procedures. These procedures monitor transactions to prevent illicit activities.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
Rio’s APIs are designed for developers to integrate into existing applications. The company also uses domestic banking rails for money disbursement and collection.
Rio’s funding
Rio secured an undisclosed seed funding round from Pioneer Fund in August 2022. The round also included two other investors.
The funding was described as reflecting investor confidence in Rio’s potential to disrupt the crypto and stablecoin market in LATAM. Rio has announced additional funding since its August 2022 seed round.
Conclusion
Rio provides cryptocurrency transaction infrastructure for LATAM through local operations, payment methods, banking relationships, regulatory compliance, AML procedures, and developer-friendly APIs.
Its services are designed for individuals and businesses buying and selling virtual assets, as well as developers integrating crypto payments into existing applications.
Are you working on an innovative product? We would love to hear your story. Share it with us at startups@newzchain.com
Edited by Shruti Thapa
More in Startup Stories
