Ripple launches Brazil base to grow its blockchain payment solution

Ripple, the enterprise blockchain solution for cross-border payments, announced they have launched operations in Brazil to expand its reach within South America. In addition, Ripple is also bringing on seasoned fintech entrepreneur and executive Luiz Antonio Sacco as managing director to drive strategy and build the Ripple ecosystem in the region.

Ripple will exhibit at CIAB Febraban, from June 11th to 13th, where it will showcase RippleNet, their global payments network for banks and payment providers to send cross-border payments worldwide.

With RippleNet, customers can address these challenges:

“In January, Ripple surpassed 200 customers on RippleNet. The company is experiencing rapid customer growth across all markets, and is launching in Brazil in response to high customer demand in South America. We are fortunate to have Luiz on board to expand our presence in the region and help our customers address the challenges of cross-border payments.”
– Eric van Miltenburg, SVP of Global Operations, Ripple

It was reported that Ripple is adding an average of two to three new financial institutions to RippleNet each week. In other positive trends, Ripple saw more transactions on the network in Q1 ’19 than it did in all of 2018.

RippleNet Customers

Ripple already has more than a dozen Brazilian financial institutions and money transfer companies on RippleNet, including:

“We’re excited to grow our ecosystem in the region and bring additional financial institutions onto RippleNet to help provide excellent, efficient cross-border payment experiences for their customer. Brazil is a leader in fintech innovation and positioned to forge a path for the rest of South America to follow.”
– Luiz Antonio Sacco, Managing Director – South America

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