Ripple, a leading blockchain company, has recently expanded its presence in Europe through a strategic partnership with Unicâmbio, a prominent Portuguese crypto exchange. This collaboration aims to streamline cross-border payments between Portugal and Brazil by utilizing Ripple Payments technology, as announced in a press release on Feb. 10th.
The partnership between Ripple and Unicâmbio is a significant move towards enhancing financial connectivity between the two nations. Through Ripple Payments, corporate clients of Unicâmbio will be able to transfer funds swiftly and efficiently, reducing processing delays and operational friction. By leveraging Ripple’s blockchain solution, users of Unicâmbio will benefit from near-instant settlements, eliminating inefficiencies commonly associated with traditional payment networks. This initiative underscores Ripple’s commitment to optimizing global remittances through digital assets and blockchain technology.
Ripple has already established a strong foothold in Brazil through previous collaborations with financial institutions like Travelex Bank and Mercado Bitcoin. Travelex has been leveraging Ripple’s payment network since 2022, while Mercado Bitcoin, the largest crypto exchange in Latin America, integrated Ripple’s solutions in late 2024.
Cassie Craddock, Ripple’s Managing Director for the UK and Europe, expressed her enthusiasm about the partnership with Unicâmbio, stating that it marks a significant milestone in Ripple’s European expansion efforts. She highlighted that this integration will not only enhance Portugal’s growing crypto ecosystem but also showcase Ripple’s expertise in tokenizing real-world assets. Craddock further emphasized 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.”
Adriana Jerónimo, a Board Member at Unicâmbio, underscored the broader impact of the partnership, describing it as an extension of the economic and cultural ties between Portugal and Brazil. Jerónimo stated, “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, totaling more than $70 billion in volume. This signifies Ripple’s continued commitment to revolutionizing cross-border payments and enhancing financial connectivity on a global scale.
In conclusion, the partnership between Ripple and Unicâmbio is poised to bring significant benefits to businesses and individuals conducting cross-border transactions between Portugal and Brazil. By leveraging Ripple Payments technology, users can experience faster, more efficient, and cost-effective remittance services, ultimately contributing to the growth and development of the global digital economy.