Ripple Partners with Unicâmbio for Instant Payments Between Portugal and Brazil
In a significant move to enhance cross-border payment solutions, Ripple announced on Monday that it has partnered with Unicâmbio, a prominent currency exchange provider in Portugal. This collaboration aims to facilitate instant international payments between Portugal and Brazil by leveraging Ripple’s advanced payments platforms, which utilize digital assets for quicker and more cost-effective cross-border transactions.
Through this innovative service, Unicâmbio’s corporate clients can now transfer funds and complete transactions within minutes, marking Ripple’s inaugural entry into the Portuguese market. The partnership is expected to streamline payment processes significantly, providing a valuable resource for businesses operating in both countries.
“Portugal has developed a thriving crypto ecosystem, and we are excited to expand our payments solution to partners in this region,” stated Cassie Craddock, Managing Director for the UK & Europe at Ripple. “By linking our payment networks in Portugal and Brazil, we are enabling faster and more cost-effective cross-border transactions while reinforcing the economic ties between these two dynamic markets.”
Ripple’s payment infrastructure is built on the XRP Ledger, allowing users to send and receive a variety of currencies, including both fiat and cryptocurrencies. This system operates through a network of financial institutions that utilize the XRP token to facilitate seamless transactions across borders.
