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Ripple has expanded its business despite facing many obstacles. In the past two years, Ripple has signed several partnership agreements. Ripple has recently entered South American waters as a result of a new partnership. The company has partnered with Unicâmbio, a prominent Portuguese currency exchange provider to carry out cross-border payments between Portugal and Brazil.
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Take a Big Step into Portugal
In a press release released recently, Ripple announced that it would expand its efforts to facilitate cross-border payments in Portugal and Brazil. Both countries will use Ripple payments. The platform makes cross-border payment faster, cheaper, and more efficient by using digital assets. The Portugal-Brazil Payments Corridor is boosted by this partnership as Ripple’s payment solution is now available in Portugal. It is important to note that Ripple already has an established presence in Brazil through various partnerships.
In addition, corporate clients of Unicâmbio will be able to transfer money and settle payments in a matter of minutes by utilizing Ripple’s payment system. The time savings and efficiency will be significant. Speaking about the same, Cassie Craddock, Managing Director, UK & Europe, at Ripple said,
“By connecting our payment networks in Portugal and Brazil we are facilitating faster, more cost-effective cross-border payments, while strengthening the economic bridge between these two major markets. Ripple has over a decade of experience in tokenizing real-world assets, starting with bringing fiat currencies on-chain to seamlessly send money across borders.“
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What is the current state of XRP?
The XRP coin has had a good year, with an increase of 365% in the past twelve months. The asset, at the time this article was written, traded for $2.43 after a drop of 1.44% over the last 24 hours. It appears that the latest news from Ripple has had little effect on the price.
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Source: watcher.guru
