Ripple is strengthening its presence in Europe by partnering with Unicâmbio, Portugal’s leading currency exchange provider. This collaboration will make it easier and cheaper to send money between Portugal and Brazil using Ripple Payments.
For the first time, Portuguese businesses can benefit from Ripple’s blockchain technology, enabling faster and more affordable international transactions. Unicâmbio’s corporate clients will now enjoy quicker settlements and lower fees compared to traditional banking services.
Portugal and Brazil have a long history of economic ties, with substantial financial exchanges between them. Recognizing the need for a more efficient system, Unicâmbio embraced blockchain technology. Executive Board Member Adriana Jerónimo noted how blockchain is transforming payments by making them quicker and cheaper for customers.
According to Cassie Craddock, Ripple’s Managing Director for the UK Europe, Portugal’s booming crypto market makes it the perfect base for Ripple to expand operations. This partnership aligns with Ripple’s goal of making international payments faster, cheaper, and more accessible.
Ripple already has a strong foothold in Brazil, working with major financial institutions like Travelex Bank and Mercado Bitcoin, the country’s largest cryptocurrency exchange. This new alliance reinforces Ripple’s commitment to transforming global payments.
Ripple has spent more than a decade pioneering blockchain technology to transform cross-border payments. The firm boasts over 60 regulatory licenses and is active in more than 90 markets, representing a large portion of global FX. Ripple has securely processed over $70 billion of transactions till now.
