Ripple has secured a strategic partnership with Unicâmbio, Portugal’s top currency exchange provider, to enhance cross-border payments.
Ripple's European Market Expansion
Ripple Payments continues its European market expansion through integration with Unicâmbio. Ripple’s president Monica Long announced the integration of Portugal into the Ripple network, highlighting its value in helping enterprises execute borderless transactions efficiently.
Strengthening Brazil-Portugal Payment Corridor
This partnership also reinforces the Brazil-Portugal payments corridor. Unicâmbio joins Brazilian financial entities like Travelex Bank and Mercado Bitcoin in leveraging Ripple Payments to facilitate smoother international transactions. Unicâmbio’s executive, Adriana Jerónimo, highlighted the deep cultural and business connections between Brazil and Portugal, making this integration particularly impactful.
Ripple Increases Stablecoin Issuance
Beyond its partnership with Unicâmbio, Ripple continues to expand its financial offerings through stablecoin issuance. The Ripple Treasury recently minted two substantial batches of Ripple USD (RLUSD), totaling 425,000 and 625,000 RLUSD. Over the weekend, a much larger 9.1 million RLUSD was issued within 12 hours, indicating growing adoption and utility for Ripple’s stablecoin in the digital payments ecosystem.
Ripple's partnership with Unicâmbio and subsequent stablecoin issuance efforts underline its commitment to strengthening its position in the international payments industry.
