- Ripple and Unicâmbio partner for blockchain payments between Portugal and Brazil, enhancing cross-border efficiency.
- Leveraging Portugal’s crypto-friendly policies, the partnership boosts Ripple’s European presence and market reach.
Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced a strategic partnership with Portuguese currency exchange provider Unicâmbio. The collaboration aims to facilitate instant cross-border payments between Portugal and Brazil using Ripple Payments, an advanced blockchain-powered solution.
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
This marks Ripple’s entry into Portugal’s financial sector, strengthening its presence in Europe while enhancing the Portugal-Brazil remittance corridor. The partnership aligns with Portugal’s crypto-friendly policies, enabling Unicâmbio’s corporate clients to transfer funds more efficiently, reducing transaction time and costs.
Ripple Expands European Footprint with First Portuguese Partnership
Ripple’s entry into Portugal aligns with the country’s growing crypto-friendly ecosystem. The partnership allows Unicâmbio’s corporate customers to settle transactions in minutes, eliminating the delays of traditional banking channels. Cassie Craddock, Managing Director, UK & Europe at Ripple, emphasized the significance of this expansion.
“Our partnership with Unicâmbio is a significant milestone in Ripple’s European expansion,” Craddock stated.
By connecting our payment networks in Portugal and Brazil, we are facilitating faster, cost-effective cross-border transactions while strengthening the economic bridge between these two major markets.
Portugal’s regulatory stance has made it an attractive hub for digital asset innovation, further enhancing the appeal of Ripple’s blockchain-based payment solutions. With Brazil being a key remittance destination for Portuguese citizens, the partnership unlocks seamless financial transfers between the two regions.
Unicâmbio Leverages Blockchain for Faster, Cost-Effective Transactions
Unicâmbio aims to modernize the money movement between Portugal and Brazil, a corridor characterized by deep economic and cultural ties. The firm’s adoption of Ripple’s payment technology enables near-instant settlement, significantly reducing transaction costs.
“Portugal and Brazil share deep economic and cultural ties, with significant money flows between the two countries,” said Adriana Jerónimo, Executive Board Member at Unicâmbio.
By leveraging blockchain technology, we’re transforming money movement between the two nations.
The move positions Unicâmbio at the forefront of digital payments, reducing reliance on traditional banking intermediaries and enhancing customer experience. With Ripple’s support, the company expects to drive greater efficiency and transparency in international transactions.
Ripple’s Growing Influence in Global Finance
Ripple’s technology is not just expanding geographically but also in terms of functionality. With more than $70 billion in processing volume and partnerships with major financial players like Travelex Bank and Mercado Bitcoin, Ripple is strengthening its position as a leader in the financial technology sector. This new partnership in Portugal is expected to enhance Ripple’s already robust network, which includes over 90 payout markets worldwide.
Beyond Portugal and Brazil, Ripple’s payment solutions are being considered in Russia as the country explores digital tokens for international trade. CNF reported that Russia plans to launch a trial for cross-border crypto payments to bypass economic sanctions.
With over 144 million residents, Russia requires a scalable blockchain network with low fees and real-time transactions. Analysts suggest that XRP could be a viable candidate for the initiative, given its efficiency in facilitating instant cross-border payments.
Russia’s central bank is reportedly integrating digital tokens into its National Payment Card System, a move aimed at enhancing financial resilience. While the government has not officially confirmed Ripple’s involvement, interest in blockchain technology for sanctions-resistant transactions continues to grow.
