Ripple Expands to Portugal with Unicâmbio Partnership

Ripple, a global payment network that is well-known for its cross-border payments, recently announced its strategic partnership with Portuguese currency exchange provider Unicâmbio. The main aim of this collaboration is to initiate instant cross-border payments between Portugal and Brazil through Ripple payments.

Ripple Strengthening Portugal-Brazil Payment Corridors

As per the press release, the cross border network is expanding into Portugal for the very first time. Moreover, with this move, it is increasing its presence in Europe while improving the efficiency, speed, and cost-effectiveness of transferring money between the two countries, in this case, Portugal and Brazil.

Unicâmbio will now leverage Ripple’s cutting edge technology which will allow its users to make payments in minutes, reducing time and costs significantly.

“Our partnership with Unicâmbio is a significant milestone in the network’s European expansion. Portugal has developed a thriving crypto ecosystem so we are delighted to open up our payments solution to partners there,” said Cassie Craddock, Managing Director, UK & Europe, at Ripple.

Blockchain-Powered Efficiency

“By leveraging blockchain technology we’re transforming money movement between the two nations. Ripple’s crypto-enabled payments solution enables near-instant settlement and drastically reduces costs compared to traditional payments channels, delivering real value to our customers”  said Adriana Jerónimo, Executive Board Member at Unicâmbio.

The cross border payment service provider has already established a presence in Brazil, collaborating with major clients like Travelex Bank and Mercado Bitcoin. This further expansion in Portugal will solidify the company’s presence in global payment ecosystem.

Moreover, the cross border payment service now operates in more than 90 payout markets, covering over 90% of daily FX markets and processing more than $70 billion in transactions. With all these achievements, the company is ready to revolutionize cross-border payment services.

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