Ripple Expands to Portugal with Unicâmbio for Faster Cross-Border Payments

• Ripple has entered the Portuguese market through a partnership with Unicâmbio to enhance cross-border payments between Portugal and Brazil.
• The collaboration aims to improve transaction efficiency using blockchain, streamlining fund transfers for corporate customers in both nations.
• Ripple’s expansion boosts its global reach, now covering over 90% of daily FX markets, processing more than $70 billion in transactions.

Ripple has partnered with Unicâmbio, a Portuguese currency exchange provider, to launch cross-border payment services between Portugal and Brazil. The move marks Ripple’s official entry into Portugal, further strengthening its European presence.

This partnership allows corporate customers to send and settle payments efficiently, reducing processing time and minimizing transactional friction. According to Ripple, blockchain technology will transform financial flows between the two countries, enhancing economic connectivity.

Growing adoption of blockchain in financial services

Ripple has already established a presence in Brazil, working with institutions like Travelex Bank and Mercado Bitcoin. The company continues expanding its footprint by collaborating with financial firms seeking faster and more secure cross-border payment solutions.

Adriana Jerónimo, an executive board member at Unicâmbio, highlighted the significance of this partnership, emphasizing that blockchain-powered payments will provide businesses with an efficient alternative for money transfers. The technology is expected to enhance financial services and benefit companies engaged in international transactions.

Ripple expands global coverageWith this latest partnership, Ripple claims to have achieved near-global coverage, servicing over 90 payout markets. The company processes more than $70 billion in transactions, covering a substantial share of the foreign exchange markets.

XRP price movement despite expansion

XRP experienced a decline of 0.33% after the announcement thus reaching a trading price of $2.44. At present, the Portuguese crypto market continues to grow as 268,000 people invest in digital currencies including Ethereum and Bitcoin. 

Public understanding is paired with upgraded infrastructure networks to promote ongoing growth in investment markets.