Latin America’s crypto market is booming, and Ripio sits at the forefront. With wallets, trading services, and payment infrastructure across the region, Ripio faced the dual pressures of surging transaction volumes and tightening regulatory demands.
In this blog, we explore how Ripio partnered with Taxbit to transform its accounting workflows into a scalable, audit-ready system, and what lies ahead for both businesses.
Scaling Amid Complexity
As Ripio’s OTC trading volumes doubled year-over-year, the finance team grappled with multiple data sources, regional compliance requirements, and the need to deliver transparent, drill-down reporting. Francisco De La Torre, Ripio’s Accounting & Tax Coordinator, explains.
Core Challenges Reimagined
Before Taxbit, Ripio relied on time consuming processes to piece together its accounting picture. Ensuring data consistency across billions in transaction flows was challenging.
Francisco recalls, “We’d spend hours matching fees, balances, and transaction types across multiple platforms, it was very time-consuming”
At the same time, evolving regulations in Argentina, Brazil, and beyond were raising the bar on audit readiness.
“Regulators now want drill-down detail on every virtual asset transaction not just high-level summaries. Our processes struggled to keep up,” says Francisco.
Finally, Ripio’s diverse product suite, OTC trades, intercompany loans, B2B payments required a flexible classification engine. “We needed to reclassify a loan from a trade, an invoice payment from a reimbursement, and do it on demand,” Francisco noted. Any change in classification meant hours of back-and-forth adjustments, until Taxbit introduced rule-based, reprocessable data workflows.
Audit-Readiness with Taxbit
With Taxbit, Ripio centralized on-chain data, exchange APIs, and custody reports into one unified platform. Automated cost-basis tracking and reconciliation replaced manual exports, while built-in roll-forward reports and hash-level filters delivered audit-ready outputs on demand.
Francisco explains. “We push transaction outputs into our dashboards, so leadership sees real-time P&L impacts without waiting for month-end.”
Additionally, Taxbit’s SOC 1 & 2 certification means that Ripio could provide partner-ready data straight out of the box, streamlining both regulatory and commercial audits.
Measurable Results and Business Impact
Since implementing Taxbit, Ripio has halved its month-end close time, even as transaction volumes doubled. What once required weeks of coordination now wraps up in days. Francisco reflects, “We still handle twice as many transactions as last year, but the process feels half as complex. Re-running categorization rules is as simple as pressing ‘reprocess’ and waiting a few hours.”
Looking Ahead: Expansion and Innovation
Ripio is already planning to extend Taxbit’s capabilities across its entire business. The next milestones include automating invoicing and settlement reporting for B2B payment solutions, integrating crypto-collateralized lending workflows, and supporting new virtual-asset regulations in Colombia and Chile.
Francisco envisions a future where treasury management, FX hedging, and revenue recognition all flow through a single, automated pipeline: “Our goal is fully automated before 2026, and with Taxbit’s roadmap, I’m confident we’ll get there.”
Ripio’s journey with Taxbit is a testament to the power of purpose-built crypto accounting software. By standardizing data into one automated platform, Ripio transformed complex, and time consuming processes into a scalable, audit-ready system, enabling both operational efficiency and strategic growth. As Ripio continues to innovate across Latin America, Taxbit remains a trusted partner in delivering transparent, compliant, and real-time financial reporting.
Reach out to our team to start your journey toward automated, compliant digital asset accounting.
