Ripple expands in Europe, bringing instant, low-cost blockchain payments to Portugal and revolutionizing transfers on the Portugal-Brazil corridor.
Ripple’s European Footprint Grows—First Ever Launch of Its Payments Solution in Portugal
Ripple announced a partnership with Unicâmbio, a Portuguese currency exchange provider, on Feb. 10 “to support instant cross-border payments between Portugal and Brazil using Ripple Payments.” This initiative leverages digital assets to provide faster and more cost-effective transactions, marking a significant step in Ripple’s European expansion. By integrating Ripple’s blockchain-powered solution, Unicâmbio’s corporate clients will experience near-instant settlement, drastically improving the efficiency of money transfers between the two nations. The crypto firm detailed:
This collaboration marks the first time that Ripple’s payments solution has been made available in Portugal, expanding the digital asset leader’s European footprint while strengthening the Portugal-Brazil payments corridor.
Cassie Craddock, Managing Director for the UK and Europe at Ripple, underscored the importance of this expansion, stating: “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 up our payments solution to partners there.”
Adriana Jerónimo, Executive Board Member at Unicâmbio, also emphasized the deep financial connections between the two countries and the impact of blockchain on money movement. She highlighted that Ripple’s technology “enables near-instant settlement and drastically reduces costs compared to traditional payments channels, delivering real value to our customers.”
The partnership builds on Ripple’s growing presence in Brazil, where it has collaborated with Travelex Bank since 2022 and Mercado Bitcoin, Latin America’s largest cryptocurrency exchange. Ripple Payments operates in more than 90 payout markets, covering over 90% of daily FX transactions and processing more than $70 billion in volume. With a robust regulatory framework and over 60 licenses worldwide, Ripple continues to strengthen its position as a leader in blockchain-based financial solutions. By bringing its technology to Portugal, Ripple further solidifies its role in revolutionizing cross-border payments with digital assets.
Source: Bitcoin
