Ripple is making headlines as it strengthens its foothold in Europe by partnering with Unicâmbio, a prominent currency exchange provider in Portugal. This collaboration is set to enhance cross-border payments between Portugal and Brazil, significantly benefiting businesses operating in these regions.
This partnership comes on the heels of Ripple’s ongoing efforts to expand its payment solution network, which is already thriving in Brazil with established clients like Travelex Bank and Mercado Bitcoin. The announcement made on February 10, 2025, indicates that Ripple will empower its corporate customers to execute fund transfers and settle payments more efficiently. In a market where speed and reliability are critical, this innovative payment system aims to reduce the time and friction associated with value transfer.
Cassie Craddock, Managing Director for the UK & Europe at Ripple, commented on the significance of this expansion, stating that “more institutions like Unicâmbio are leaning in to benefit from the inherent advantages of blockchain technology.” She highlighted the deep economic and cultural connections between Portugal and Brazil, which compounds the necessity for efficient payment solutions.
Unicâmbio’s executive board member, Adriana Jerônimo, emphasized that by leveraging blockchain technology, Ripple transforms the way money moves between these two nations. The new service will not only streamline transactions but also offer competitive advantages that will attract more businesses eager to engage in international trade.
With this strategic partnership, Ripple asserts it has achieved “near-global coverage,” encompassing over 90 payout markets and processing upwards of $70 billion in transaction volume. Despite this positive development, it’s worth noting that the price of XRP has recently dropped by 0.33%, reflecting the volatility of the cryptocurrency market. As public interest in cryptocurrencies grows—evident by the reported 268,000+ individuals investing in Bitcoin and Ethereum in Portugal—Ripple’s solutions could play a crucial role in enhancing the operational efficiency of Portuguese businesses engaged in global commerce.
