Ripple Partners with Portugal’s Oldest Currency Exchange, Unicâmbio, to Enable Instant Payments Between Brazil and Portugal
Ripple has announced a strategic partnership with Unicâmbio, Portugal’s oldest and most established currency exchange, to facilitate instant cross-border payments between Brazil and Portugal using crypto and Ripple Pay.
Key Highlights:
- The partnership will leverage Ripple’s blockchain technology to enhance remittance services between Brazil and Portugal.
- Transactions will be processed instantly, reducing costs and settlement times compared to traditional banking systems.
- This collaboration strengthens Ripple’s presence in the European market, particularly in the growing remittance corridor between South America and Europe.
Transforming Cross-Border Payments with Blockchain
Brazil and Portugal share strong economic and cultural ties, with a high volume of remittances flowing between the two countries. Traditional remittance services often involve high fees and long processing times, creating inefficiencies for individuals and businesses.
With Ripple Pay, transactions between Brazil and Portugal will be settled instantly and securely, using blockchain technology to eliminate intermediaries and reduce costs.
According to Unicâmbio’s CEO, this partnership will provide customers with a faster, cheaper, and more transparent way to send and receive money.
Ripple Expands Global Footprint
Ripple has been actively expanding its global partnerships, especially in regions with high remittance activity. The collaboration with Unicâmbio follows similar Ripple-powered payment solutions introduced in Asia, the Middle East, and Latin America.
This move reinforces Ripple’s commitment to bridging the gap between traditional finance and blockchain-powered payments, offering seamless, low-cost financial solutions across borders.
Conclusion
The partnership between Ripple and Unicâmbio marks a significant milestone in the adoption of crypto-powered remittance solutions. As Ripple continues to expand its network, blockchain-based payments are set to revolutionize the global financial landscape, making cross-border transactions more efficient and accessible than ever before.