Ripple Partners with Unicâmbio to Launch Cross-Border Payments in Portugal – BitRss

Ripple, a prominent provider of digital asset infrastructure for financial institutions, has announced a partnership with Portuguese currency exchange provider Unicâmbio. This collaboration aims to facilitate instant cross-border payments between Portugal and Brazil using Ripple Payments, a solution that leverages digital assets to enhance the speed and cost-efficiency of international transactions.

This partnership marks the first time Ripple’s payment solution is available in Portugal, expanding its European presence and strengthening the Portugal-Brazil payments corridor. By utilizing Ripple’s technology, Unicâmbio’s corporate clients will be able to transfer funds and settle payments within minutes, significantly reducing the time and friction associated with traditional cross-border transactions.

Expanding Ripple’s European Footprint

Cassie Craddock, Managing Director for the UK & Europe at Ripple, highlighted the significance of this partnership as a milestone in Ripple’s European expansion. She noted that Portugal’s thriving crypto ecosystem makes it an ideal location to introduce Ripple’s payment solutions. Craddock stated, “By connecting our payment networks in Portugal and Brazil, we are facilitating faster, more cost-effective cross-border payments, while strengthening the economic bridge between these two major markets.”

Adriana Jerónimo, Executive Board Member at Unicâmbio, emphasized the deep economic and cultural ties between Portugal and Brazil, which result in substantial money flows between the two countries. She explained that Ripple’s blockchain technology is transforming money movement between these nations, offering near-instant settlement and significantly reduced costs compared to traditional payment channels.

Building on Ripple’s Presence in Brazil

This partnership builds upon Ripple’s established presence in Brazil, where it collaborates with leading customers such as Travelex Bank and Mercado Bitcoin, Latin America’s largest cryptocurrency exchange. Ripple’s digital asset infrastructure is designed to provide financial institutions with the tools needed to tokenize, store, exchange, and move digital assets securely and compliantly.

Ripple Payments boasts near-global coverage, with 90+ payout markets representing over 90% of daily foreign exchange markets, processing more than $70 billion in volume. With over a decade of experience in the digital asset space and holding 60+ regulatory licenses and registrations, Ripple is well-positioned to support the evolving needs of financial institutions worldwide.

For more information, the full announcement can be found here.

Why This Matters: Impact, Industry Trends & Expert Insights

Ripple has partnered with Unicâmbio to launch cross-border payments in Portugal, marking a strategic expansion in its European operations. This collaboration leverages Ripple’s technology to facilitate faster and more cost-effective transactions between Portugal and Brazil.

Recent industry reports indicate that the European Union is pushing for real-time payments to enhance transaction speed and efficiency. This aligns with Ripple’s initiative to offer instant cross-border payments in Portugal, reflecting broader trends in the financial sector aimed at improving transaction processes.

As per insights from a FinanceFeeds report, Ripple’s partnerships, such as with Mercado Bitcoin, have significantly impacted the Brazil-Portugal financial corridor by enabling faster and more efficient transactions. This supports the significance of Ripple’s new partnership with Unicâmbio in further streamlining cross-border payments between these two countries.

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