Ripple partners with Unicâmbio to Expand in Portugal

• Ripple has partnered with Unicâmbio to launch cross-border payments between Portugal and Brazil.
• Ripple now supports over 90 payment markets and processes $70 billion in transactions.

Ripple has now entered the Portuguese market as it seals an agreement with Unicâmbio, one of the biggest providers of currency exchange services. The partnership, officially launched on February 10, will facilitate seamless cross-border payments between businesses in both Portugal and Brazil through Ripple’s blockchain technology. This marks a key milestone in Ripple’s European expansion, providing corporate clients with faster and more efficient fund transfers between the two nations.

Through Ripple, Unicâmbio wishes to cut cross-border friction that is associated with delays. There is hope among companies in operating both markets regarding the efficiency to be witnessed within money transfer operations, settlement activities, and maintaining liquidity. Some of the previous achievements for Brazil include Travelex Bank, and Mercado Bitcoin, among several other big clients.

Ripple Expands Near-Global Reach in Cross-Border Payments

Ripple’s partnership with Unicâmbio evidences the ever-increasing desire for blockchain-based financial innovations. Cassie Craddock, Ripple’s UK and European managing director described that still more institutions are embracing blockchain technology to lead to better payments efficiency. Adriana Jerónimo of Unicâmbio serves on its executive board. She says Portugal and Brazil have long-established links in terms of economic as well as cultural, so this partnership is a natural step towards bringing a modern touch to cross-border money movement.

This new development will make Ripple enjoy near-global reach, processing transactions in more than 90 payout markets with transaction volumes surpassing $70 billion. In fact, with the good news of the latest addition, XRP price slightly dipped by 0.33%, trading at $2.44. In other news, more and more citizens of Portugal embrace crypto assets. The country has 268,000 or more Bitcoin and Ethereum investors. Increasing public awareness, improvements in infrastructure, and wider acceptance of cryptocurrencies continue to fuel the growth of the company as one of the most important players in the European crypto landscape.

It has already signified renewed interest in the American market by hiring 75% of its workforce from the United States. Ripple has, in the past, spoken negatively about the approach of the country’s regulation and how many blockchain firms went elsewhere in search of opportunities. Should the new administration introduce clear policies on cryptocurrencies, Ripple might easily regain its ground in the US financial system and continue spreading influence globally.