Ripple Expands in Europe: Unicâmbio Partnership Boosts Cross-Border Payments

Ripple, a leading global blockchain payments company, has announced a strategic partnership with Unicâmbio, a well-funded Portuguese cryptocurrency exchange. This collaboration aims to streamline cross-border payments between Portugal and Brazil, further expanding Ripple's presence in the European market.

Ripple's payments network has grown to cover over 80 payout markets, representing more than 90% of the global FX market. The partnership with Unicâmbio is a significant milestone in Ripple's European expansion, particularly as the European Union implements the Markets in Crypto-Asset (MiCA) regulation.

Cassie Craddock, Managing Director, UK & Europe, at Ripple, commented on the partnership: "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."

Ripple has a history of strategic partnerships with traditional financial institutions looking to enter the blockchain industry. The company has capitalized on the US-Latin American payment corridor, with existing partnerships in Brazil, including Travelex Bank and Mercado Bitcoin, to facilitate the Portugal corridor.

Adriana Jerónimo, Executive Board Member at Unicâmbio, noted the benefits of the partnership: "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."

The strategic partnership between Ripple and Unicâmbio will significantly strengthen the mainstream adoption of XRP and the recently launched fiat-backed stablecoin RLUSD. Ripple Payments taps into the time-tested XRPL blockchain, which involves XRP as a fee payment. Ultimately, the XRP price is well-positioned to rally exponentially in the long term, fueled by institutional investors and improving regulatory clarity in the United States.