Ripple has announced its first partnership in Portugal, collaborating with Unicâmbio to improve payment solutions between Portugal and Brazil.
Simplifying Money Transfers
Portugal and Brazil have always been closely connected, with millions moving between these countries monthly. Until now, sending this money was slow and expensive. International payment systems caused significant problems: delays, high fees, and lack of transparency. With Ripple's technology, Unicâmbio's business customers can now send money in minutes instead of days, with a 24/7 service. Adriana Jerónimo from Unicâmbio noted that Ripple's payment solution enables near-instant settlement and drastically reduces costs.
Europe Embraces Digital Payments
This move into Portugal is part of Ripple's growing presence in Europe. In the past year, Ripple has partnered with European banks like DZ Bank and BBVA Switzerland, adding Societe Generale's stablecoin to XRP Ledger. Europe is becoming a leader in digital assets, with 90% of finance leaders believing blockchain will change their industry. In Europe, 89% are open to using cryptocurrencies, stablecoins, or digital currencies, and 41% plan to use crypto for international payments. New regulations make this process easier.
Ripple's Expansion in Europe
Ripple and PwC held a meeting in Lisbon with business leaders following the partnership announcement. They discussed blockchain's potential for payments and digital asset storage. Ripple's network now covers over 90 payment markets worldwide, processing over $70 billion in payments and holding more than 60 regulatory licenses. This new partnership with Unicâmbio strengthens their network.
Ripple continues to expand its presence in Europe, modernizing cross-border payment systems, and offering its solutions beyond Portugal to other countries.
