The collaboration will use Ripple Payments, a system that relies on digital assets to facilitate faster and more cost-effective international transactions. This marks the first implementation of Ripple’s payments technology in Portugal, widening its reach in Europe while enhancing financial connectivity between Portugal and Brazil. Through this partnership, Unicâmbio’s corporate clients will be able to transfer and settle funds within minutes, improving the efficiency of cross-border transactions.
Representatives from Ripple stated that the agreement with Unicâmbio is an important step in the company’s European expansion. They noted that Portugal has a growing crypto sector and emphasised that linking payment networks in Portugal and Brazil would streamline transactions while reinforcing economic ties between the two countries. They also highlighted Ripple’s experience in tokenizing real-world assets and facilitating cross-border transactions using blockchain technology.
Officials from Unicâmbio pointed out that Portugal and Brazil maintain strong economic and cultural ties, with significant money flows between them. They said that by integrating blockchain technology, the company aims to modernise financial transfers between the two countries.
The partnership builds on Ripple’s existing presence in Brazil, where it works with financial institutions such as Travelex Bank, which has been a partner since 2022, and Mercado Bitcoin, one of Latin America’s largest cryptocurrency exchanges.
Ripple Payments currently operates in more than 90 payout markets, covering over 90% of global foreign exchange markets. The company has processed more than USD 70 billion in transaction volume and holds over 60 regulatory licenses and registrations in various jurisdictions.
Ripple provides digital asset infrastructure for financial institutions, focusing on solutions for payments, custody, and asset tokenization. The company’s technology is designed to facilitate fast and scalable transactions using the XRP Ledger and its native digital asset, XRP. Ripple has worked with regulators and policymakers globally to advance the adoption of enterprise blockchain solutions.
Founded in 1992, Unicâmbio is a financial institution in Portugal specialising in currency exchange and international money transfers. The company operates a network of more than 80 locations, including major cities and airports in Lisbon, Porto, Faro, the Azores, and Madeira.
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