tl;dr
Ripple has partnered with Unicâmbio, a Portuguese crypto exchange, to facilitate cross-border payments between Portugal and Brazil using Ripple Payments. Through this partnership, Unicâmbio's corporate clients can transfer funds quickly and efficiently, benefiting from near-instant settlements and r...
Ripple has teamed up with Unicâmbio, a Portuguese crypto exchange, to streamline cross-border payments between Portugal and Brazil using Ripple Payments. This collaboration aims to enhance financial connectivity and reduce operational friction, benefiting Unicâmbio's corporate clients through quick and efficient fund transfers, near-instant settlements, and reduced processing delays. Ripple's expansion in Europe through this partnership signifies its commitment to optimizing global remittances using digital assets and blockchain technology.
With the integration of Ripple's blockchain solution, Unicâmbio users will experience the elimination of inefficiencies found in traditional payment networks, aligning with Ripple's strategy to enhance financial connectivity between Portugal and Brazil. This move marks Ripple's first-ever Payments deployment in Portugal and is seen as a significant milestone in the company's European expansion, aiming to bolster Portugal's growing crypto ecosystem and strengthen economic and cultural ties between the two nations.
Cassie Craddock, Ripple’s Managing Director for the UK and Europe, emphasized that the partnership with Unicâmbio is a testament to Ripple's expertise in tokenizing real-world assets and will bring instant cross-border payments to the Portugal-Brazil corridor, leveraging Portugal's thriving crypto ecosystem. This collaboration not only showcases Ripple's commitment to optimizing global remittances but also extends economic and cultural ties between Portugal and Brazil.
Adriana Jerónimo, a Board Member at Unicâmbio, highlighted the broader impact of the partnership, emphasizing the transformation of money movement between the two nations through blockchain technology. By enabling near-instant settlement and reducing costs compared to traditional payment channels, Ripple's crypto-enabled payments solution delivers real value to customers.
Ripple Payments now operates in over 90 payout markets, covering more than 90% of daily foreign exchange transactions, totaling over $70 billion in volume, solidifying its position in the global remittance market.