Ripple will work with Unicâmbio to promote Brazilian staff payments that are closer to instant

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Ripple said Monday that the company will partner with Portuguese's leading financial services company Unicâmbio to allow immediate cross-border payments between Portugal and Brazil. As part of the partnership, Unicâmbio uses Ripple payments to resolve payments for corporate customers.

Developed by Ripple Labs, Ripple Payments is a payment network aimed at revolutionizing international remittances by offering real-time payments, reduced costs and increased transparency.

The partnership shows Ripple's payment solutions are available for the first time in Portugal, expanding its reach in Europe.

“Since Portugal has developed a thriving crypto ecosystem, we are pleased to be able to open a payment solution for its partners there,” says Cassie Craddock, managing director for the UK & Europe, Ripple's managing director. . “By connecting the Portuguese and Brazilian payment networks, we will promote faster, more cost-effective cross-border payments while strengthening the economic bridge between these two major markets.”

According to Adriana Jerónimo, a board member of Unicâmbio, the partnership is expected to make Portugal-Brazil transactions faster and cheaper, and ultimately benefit Unicâmbio's customers.

“Portugal and Brazil share deep economic and cultural ties, and there is a huge amount of money flowing between the two countries,” Geronimo said. “By leveraging blockchain technology, we are transforming the money movement between the two countries.

Strategic collaboration complements Ripple's existing relationships with major Brazilian financial institutions such as TravelEx Bank and Mercado Bitcoin.

In October 2024, Ripple formed a partnership with Exchange Mercado Bitcoin in Brazil to enhance international payment capabilities with business-centric solutions.

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