Ripple has expanded its presence in Europe through a partnership with Unicâmbio, a Portuguese crypto exchange.
This partnership is set to streamline cross-border payments between Portugal and Brazil using Ripple Payments, according to a Feb. 10 statement.
Cross-border payments
The company said this move is a significant step in its broader strategy to enhance financial connectivity between the two nations. Through Ripple Payments, Unicâmbio’s corporate clients can transfer funds quickly and efficiently, reducing processing delays and operational friction.
By leveraging Ripple’s blockchain solution, Unicâmbio users will gain access to near-instant settlements, eliminating inefficiencies found in traditional payment networks. This move is part of Ripple’s commitment to optimize global remittances using digital assets and blockchain technology.
Ripple has already established a strong presence in Brazil through collaborations with financial firms such as Travelex Bank and Mercado Bitcoin. Travelex has been using Ripple’s payment network since 2022, while Mercado Bitcoin, the largest crypto exchange in Latin America, integrated its solutions in late 2024.
Cassie Craddock, Ripple’s Managing Director for the UK and Europe, said the Unicâmbio partnership is a significant milestone in the company’s European expansion. She emphasized that the integration will enhance Portugal’s growing crypto ecosystem while demonstrating the company’s expertise in tokenizing real-world assets.
Craddock added on X:
“This is the first-ever Ripple Payments deployment in Portugal and brings instant cross-border payments to the Portugal-Brazil corridor. Portugal’s thriving crypto ecosystem makes it the perfect next step for Ripple in Europe.”
Unicâmbio Board Member Adriana Jerónimo highlighted the broader impact of the partnership, describing it as an extension of the economic and cultural ties between the two nations.
Jeronimo said:
“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 payments channels, delivering real value to our customers.”
With this latest expansion, Ripple Payments now operates in more than 90 payout markets, covering over 90% of daily foreign exchange transactions, which amount to more than $70 billion in volume.
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