The firm, which has 4.5 million users and is going on a decade in business, has received regulatory approval already to start operations in the state with Ripio Select. The offering is targeted towards companies, institutional investors and high net worth individuals.

Ripio already has more than 600 clients in the region.

“We chose Florida because it is a very interesting crypto hub and we believe our products like Ripio Select have a lot of potential,” CEO and co-founder said Sebastian Serrano in a statement.

Florida, and Miami in particular, have made efforts to attract the crypto industry. Earlier this year, Gov. Ron DeSantis signed legislation defining and deregulating cryptocurrency …