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Ripple Partners with Unicâmbio to Launch Cross-Border Payments in Portugal and Brazil
Ripple, a leading provider of blockchain-based payment solutions, has partnered with Unicâmbio, a Portuguese currency exchange provider, to offer cross-border payments between Portugal and Brazil. This partnership marks Ripple’s first entry into the Portuguese market and signifies a significant step in its European expansion.
By collaborating with Unicâmbio, Ripple will enable corporate customers to send funds and settle payments efficiently, reducing the time and friction associated with traditional payment methods. This partnership leverages the benefits of blockchain technology to transform money movement between Portugal and Brazil.
Ripple’s Expansion in Brazil and Europe
Ripple has been operating in Brazil for some time, with customers like Travelex Bank and Mercado Bitcoin already utilizing its solutions. The company’s managing director, UK & Europe, Cassie Craddock, noted that more institutions like Unicâmbio are recognizing the benefits of blockchain technology and “leaning in to benefit from its inherent advantages.”
According to Adriana Jerónimo, executive board member at Unicâmbio, “Portugal and Brazil share deep economic and cultural ties, with significant money flows between the two countries. By leveraging blockchain technology, we’re transforming money movement between the two nations.”
Ripple’s Global Coverage and Market Presence
With this latest partnership, Ripple now boasts “near-global coverage” with over 90 payout markets, representing more than 90% coverage of the daily FX markets. The company processes more than $70 billion in volume, solidifying its position as a leading player in the global payment landscape.
Cryptocurrency Adoption in Portugal
Despite the recent partnership, the price of XRP has dropped by 0.33%, sitting at $2.44. However, Portugal’s growing cryptocurrency investment scene remains a promising development. Over 268,000 people in Portugal are now investing in cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), driven by factors like greater public awareness, better infrastructure, and wider crypto acceptance.
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