In a strategic move to enhance cross-border financial transactions, Ripple has partnered with Unicâmbio, Portugal’s leading currency exchange provider, to facilitate instant payments between Brazil and Portugal via crypto and Ripple Pay.
According to a recent update on Ripple’s official handle, this collaboration marks Ripple’s inaugural venture into Portugal, further expanding its European presence and strengthening financial connectivity between the two nations.
Instant Crypto Payments via Ripple Pay
By integrating Ripple Pay, Unicâmbio’s corporate clients can transfer funds instantly between Portugal and Brazil. This eliminates the traditional bottlenecks associated with cross-border payments, such as long settlement times, high fees, and reliance on outdated financial infrastructure.
Planting the Ripple flag in Portugal today with Unicâmbio, our first Portuguese client and the country’s leading currency exchange provider! Using Ripple Payments, their corporate customers can now move funds near instantly between 🇵🇹 🇧🇷. https://t.co/ruOdZnHtAT
— Ripple (@Ripple) February 10, 2025
Thanks to strong economic and cultural ties between Portugal and Brazil, this partnership will simplify and reduce the cost of financial transactions between the two countries, making it easier and more affordable for individuals and businesses to send and receive money.
Adriana Jerónimo, Executive Board Member at Unicâmbio, emphasized the transformative potential of this partnership:
“By leveraging blockchain technology, we’re transforming money movement between the two nations. Ripple’s crypto-enabled payments solution enables near-instant settlement and drastically reduces costs compared to traditional payment channels, delivering real value to our customers.”
Ripple’s European Expansion Strategy
This partnership is a significant step in Ripple’s European expansion strategy, reinforcing its position as a leader in blockchain-based cross-border payments.
Cassie Craddock, Managing Director for the UK and Europe at Ripple, highlighted the importance of this development:
“Our partnership with Unicâmbio is a significant milestone in Ripple’s European expansion. Portugal has developed a thriving crypto ecosystem, so we are delighted to open our payment solution to partners there.”
Portugal’s crypto-friendly regulatory environment makes it an ideal market for Ripple’s continued growth. This move is expected to accelerate the adoption of crypto payments and blockchain technology in the European financial sector.
Building on Existing Success in Brazil
Ripple’s collaboration with Unicâmbio builds upon its established presence in Brazil, where it has partnered with Travelex Bank and Mercado Bitcoin:
In October 2024, Ripple and Mercado Bitcoin launched a crypto-enabled cross-border payments solution in Brazil. This was initially focused on internal treasury operations between Brazil and Portugal, with plans to expand to corporate and retail customers.
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Travelex Bank, the first Brazilian bank licensed by the Central Bank of Brazil to operate in foreign exchange, partnered with Ripple to launch On-Demand Liquidity (ODL), with XRP being used to settle cross-border payments instantly.
These developments highlight Ripple’s dominance in Latin America and its growing role in facilitating crypto-driven financial solutions.
Implications for Ripple and XRP
Ripple’s expansion into Portugal and its strengthening position in Brazil have major implications for Ripple and XRP:
Increased Utility for XRP – Ripple’s On-Demand Liquidity (ODL) solution, which uses XRP as a bridge currency, could see wider adoption as more financial institutions leverage Ripple Pay. If Unicâmbio integrates ODL, XRP’s liquidity and demand could rise significantly.
Institutional Adoption – This move reinforces XRP’s potential role in institutional finance. More banks and fintech companies are seeking alternatives to SWIFT, and Ripple’s fast, low-cost payment system provides a compelling option.
Potential Price Impact on XRP—While Ripple’s success doesn’t always correlate directly with its price, increased adoption of Ripple Pay and ODL could drive long-term demand for XRP. Historically, major partnerships and regulatory clarity have boosted XRP’s market sentiment.
Regulatory Strength—Ripple’s continued expansion of global partnerships strengthens the argument for classifying XRP as a utility token rather than a security. The more jurisdictions that accept Ripple’s technology, the more regulatory legitimacy XRP gains.
Ripple’s partnership with Unicâmbio is a major step forward in enabling instant crypto payments between Brazil and Portugal via Ripple Pay. As Ripple expands its European footprint, XRP’s utility could increase, driving more institutional adoption and liquidity.
With its growing influence in Latin America and Europe, Ripple reinforces its position as a leader in blockchain-powered payments. XRP could play an even bigger role in the global financial system.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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