The post Ripple News: Ripple Partners with Unicâmbio to Expand Crypto Payments in Europe appeared first on Coinpedia Fintech News
Ripple Labs, a leading U.S.-based blockchain payments company, has announced a major partnership with Unicâmbio, a well-funded Portuguese cryptocurrency exchange. This move aims to simplify and speed up cross-border payments between Portugal and Brazil using Ripple Payments.
With crypto adoption growing in Europe and regulatory frameworks like MiCA taking shape, Ripple’s expansion couldn’t come at a better time.
Let’s take a closer look at what it means for the market.
Ripple Payments now operates in over 80 payout markets, covering more than 90% of the global foreign exchange (FX) market. This new partnership will help Ripple expand its presence in Europe, especially as the region rolls out the Markets in Crypto-Assets (MiCA) regulations.
“Our partnership with Unicâmbio is a significant milestone in Ripple’s European expansion. Portugal has developed a thriving crypto ecosystem so we are delighted to open up our payments solution to partners there,” said Cassie Craddock, Managing Director, UK & Europe, at Ripple.
Over the years, Ripple has formed key partnerships with financial institutions looking to integrate blockchain into their payment systems. The company has focused heavily on the U.S.-Latin America payment corridor and will now build on its existing partnerships in Brazil – including with Travelex Bank and Mercado Bitcoin—to support transactions between Portugal and Brazil.
“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,” Adriana Jerónimo, Executive Board Member at Unicâmbio, noted.
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The strategic partnership between Ripple and Unicâmbio will significantly strengthen the mainstream adoption of XRP and the recently launched fiat-backed stablecoin RLUSD. Moreover, Ripple Payments taps into the time-tested XRPL blockchain, which involves XRP of fee payment.
Ultimately, the XRP price will be well-positioned to rally exponentially in the long haul. Furthermore, the improving regulatory clarity in the United States has helped increase XRP’s adoption in the country fueled by institutional investors.
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