Ripple officially proclaimed establishing an office in Brazil. The news was shared on the official twitter handle of Ripple. Based in South America, the center will focus on resolving the challenges of cross-border payments and provide various services for the Brazilians.
— Ripple (@Ripple) June 11, 2019
Eric van Miltenburg, SVP of Global Operations, commented;
“In January, Ripple surpassed 200 customers on RippleNet. The company is experiencing rapid customer growth across all markets and is launching in Brazil in response to high customer demand in South America. We are fortunate to have Luiz on board to expand our presence in the region and help our customers address the challenges of cross-border payments.”
The payment infrastructure at the present time is unstable and fragmented. This results in delayed cross-border transactions that the users have to wait for days for the transaction to complete. With Ripple’s product- rippleNet, the payments have been made simpler and faster in Brazil.
Previously, Brazilian exchange broker, Frente Corretora de Câmbio had launched SIMPLE in partnership with Ripple. Adding on to that, this development increased the demand for faster remittance services in Brazil. Now with its emergence in Brazil, Ripple is eager to make a firm foothold in South America drawing a large number of customers to experience fast and simple overseas transactions.
On the other hand, Ripple is also bringing on seasoned fintech entrepreneur and executive, Luiz Antonio Sacco as managing director. This action is taken in order to drive strategy and build the Ripple ecosystem in the region.
Luiz Antonio Sacco, Managing Director – South America, remarked;
“We’re excited to grow our ecosystem in the region and bring additional financial institutions onto RippleNet to help provide excellent, efficient cross-border payment experiences for their customers.” He further added, “Brazil is a leader in fintech innovation and positioned to forge a path for the rest of Latin America to follow.”
The progress will almost certainly intensify the competition between Ripple and other services. Nevertheless, Ripple already has more than a dozen Brazilian financial institutions and money transfer companies which have adopted RippleNet. Santander Brazil, BeeTech, Banco Rendimento, and a few others are relying on RippleNet for the services at the present moment. More or less, with its new technologies, Ripple is ready to hop on the top real soon.
CHZ Experiences 30% Growth with Release of Improved Technology (Chain 2.0)
Ripple May Assist Britain Gets the CBDC, Paper Released by the Bank of England
Ripple CTO Rejects XRP BuyBack Proposal as the Executive Calls the Idea a Scam
Ripple’s Legal Battle with SEC: February 6, 2023 Update
Ripple CTO and Self-proclaimed Satoshi Nakamoto Re-engages in a Heating Argument that the SEC Lawsuit is Nonsensical
Recent Press Release
5 Crypto Platforms That Pay You To Enhance Your Crypto Knowledge
The cryptocurrency market is growing at breakneck speed and so is the demand for knowledgeable crypto enthusiasts. With cryptocurrencies being...
The Beginners Guide to Bitcoin Buyer : What You Need to
Bitcoin is a decentralized digital currency. It is a form of digital asset that can be exchanged between individuals in...
Bitcoin and AI: 4 Benefits that Will Change the Economic World
There are essentially two key technological shifts that you just cannot overlook. The foremost is the renaissance of AI techniques,...
Listing Down the Top 5 Benefits of Trading With AI
“What fire was to the cavemen, AI is to commerce.” That is how one business stakeholder characterized how a technological...
Crucial Trading: Pool Of Luxurious Floor Coverings
David and Jannet Green from London took the foundation of Crucial Trading in 1986, a house of quality full carpets...