Ripple News: Ripple Partners with Unicâmbio to Expand Crypto Payments in Europe

The post Ripple News: Ripple Partners with Unicâmbio to Expand Crypto Payments in Europe appeared first on Coinpedia Fintech News

Ripple Labs, a leading U.S.-based blockchain payments company, has announced a major partnership with Unicâmbio, a well-funded Portuguese cryptocurrency exchange. This move aims to simplify and speed up cross-border payments between Portugal and Brazil using Ripple Payments.

With crypto adoption growing in Europe and regulatory frameworks like MiCA taking shape, Ripple’s expansion couldn’t come at a better time.

Let’s take a closer look at what it means for the market.

Ripple Strengthens Its Global Reach

Ripple Payments now operates in over 80 payout markets, covering more than 90% of the global foreign exchange (FX) market. This new partnership will help Ripple expand its presence in Europe, especially as the region rolls out the Markets in Crypto-Assets (MiCA) regulations.

“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,” said Cassie Craddock, Managing Director, UK & Europe, at Ripple. 

Leveraging Strong Ties in Latin America

Over the years, Ripple has formed key partnerships with financial institutions looking to integrate blockchain into their payment systems. The company has focused heavily on the U.S.-Latin America payment corridor and will now build on its existing partnerships in Brazil – including with Travelex Bank and Mercado Bitcoin—to support transactions between Portugal and Brazil.

“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,” Adriana Jerónimo, Executive Board Member at Unicâmbio, noted.

Also Read :   XRP Price Prediction For February 10   ,

Impact on XRP and RLUSD

The strategic partnership between Ripple and Unicâmbio will significantly strengthen the mainstream adoption of XRP and the recently launched fiat-backed stablecoin RLUSD. Moreover, Ripple Payments taps into the time-tested XRPL blockchain, which involves XRP of fee payment.

Ultimately, the XRP price will be well-positioned to rally exponentially in the long haul. Furthermore, the improving regulatory clarity in the United States has helped increase XRP’s adoption in the country fueled by institutional investors.