Ripple Expands in Europe: Unicâmbio Partnership Boosts Portugal-Brazil Remittances

Ripple, a leading blockchain-based payments company, has partnered with Unicâmbio, a Portuguese cryptocurrency exchange, to facilitate cross-border remittances between Portugal and Brazil. This collaboration, announced on February 10, aims to streamline the process of sending funds between the two countries by leveraging Ripple's blockchain technology.

Through this partnership, Unicâmbio's corporate clients will be able to transfer funds quickly and efficiently using Ripple Payments. This solution enables near-instant settlements, reducing processing delays and operational friction typically associated with traditional payment networks. By utilizing Ripple's blockchain solution, Unicâmbio users will gain access to a more efficient and cost-effective remittance system.

Ripple's expansion into Portugal is a significant step in its broader strategy to enhance financial connectivity between the two nations. The company has already established a strong presence in Brazil through collaborations with financial firms such as Travelex Bank and Mercado Bitcoin. Travelex has been using Ripple's payment network since 2022, while Mercado Bitcoin, the largest crypto exchange in Latin America, integrated its solutions in late 2024.

Cassie Craddock, Ripple's Managing Director for the UK and Europe, expressed her enthusiasm about the Unicâmbio partnership, stating that it is a significant milestone in the company's European expansion. She highlighted that the integration will enhance Portugal's growing crypto ecosystem while demonstrating Ripple's expertise in tokenizing real-world assets.

Adriana Jerónimo, a board member of Unicâmbio, emphasized the broader impact of the partnership, describing it as an extension of the economic and cultural ties between Portugal and Brazil. She noted that by leveraging blockchain technology, the partnership is transforming money movement between the two nations, enabling near-instant settlement and drastically reducing costs compared to traditional payment channels.

With this latest expansion, Ripple Payments now operates in more than 90 payout markets, covering over 90% of daily foreign exchange transactions, which amount to more than $70 billion in volume. This partnership further solidifies Ripple's commitment to optimizing global remittances using digital assets and blockchain technology.