Ripple President Announces Two Key Ripple Payment Expansions: Details

Ripple president Monica Long has made a major announcement on her official page on the X social media platform (widely famous as Twitter in the past). This announcement was related to the new strategic partnership announced by Ripple on Monday.

Ripple Payments has two big expansions

Long reminded the Ripple community about the importance of landing a major new corporate client in Portugal – the country’s leading currency exchange provider, Unicâmbio. Now its corporate customers will be able to instantly move funds in cross-border payments via the Ripple Payment network formerly known as ODL – On-Demand Liquidity.

The company’s president has confirmed that Portugal has been added. In connection with the first announcement, Long also announced that Unicambio has been added to the Brazil-Portugal payments corridor, joining existing clients, including Travelex Bank and Mercado Bitcoin, headquartered in Brazil.

Ripple Payments provides cheaper and faster cross-border payments powered by the XRP token, which means the coin’s utility within this line has expanded significantly. Besides, this collaboration has greatly increased XRP’s footprint in Europe and strengthened the Portugal-Brazil payments corridor provided by Ripple. The two countries have deep economic and cultural ties, according to top executive Adriana Jerónimo at Unicâmbio.

Over the past 24 hours, the third-largest digital currency, XRP, has not seen much growth due to the significant Ripple development. However, it has demonstrated a marginal increase of 5%, slightly dropping after that. At the time of this writing, XRP is changing hands at $2.50291.

Related

Ripple keeps issuing RLUSD

Meanwhile, blockchain behemoth Ripple continues to inject its recent product into the market – the Ripple USD stablecoin (RLUSD). According to data shared by the Ripple Stablecoin Tracker on the X network, over the past 14 hours, the Ripple Treasury has issued two massive stablecoin stashes – 425,000 and 625,000 RLUSD.

Over the weekend, Ripple issued a 10x bigger amount of stablecoins – 9,100,000 RLUSD, they were minted within just 12 hours, according to the aforementioned data source. These RLUSD batches, including the recent ones, were minted after the stablecoin scored listings on two major crypto-related platforms – online banking app Revolut and crypto infrastructure platform Zero Hash.