Ripple President Monica Long has unveiled two significant expansions for Ripple Payments, reinforcing the platform's global reach and utility. These developments highlight Ripple's commitment to enhancing cross-border payment solutions using its XRP-powered network.
Ripple Payments Expands into Portugal and Strengthens Brazil-Portugal Corridor
Strategic Partnership with Unicâmbio
Ripple has partnered with Unicâmbio, Portugal’s premier currency exchange provider, enabling corporate clients to leverage Ripple Payments for instant, low-cost cross-border transactions. This integration marks Ripple’s official entry into Portugal, expanding its European footprint.
Enhanced Brazil-Portugal Payments Corridor
The collaboration also bolsters the existing Brazil-Portugal payments corridor, joining established clients like Travelex Bank and Mercado Bitcoin. Adriana Jerónimo of Unicâmbio emphasized the economic and cultural synergies between the two countries, making this corridor a strategic priority for Ripple.
👉 Discover how Ripple Payments transforms international transactions
XRP’s Role and Market Response
Ripple Payments utilizes the XRP token to facilitate faster and cheaper transactions, increasing the asset’s utility. Despite these developments, XRP’s price saw a modest 5% increase over 24 hours, trading at $2.50 at press time.
Ripple’s RLUSD Stablecoin Gains Momentum
Ripple continues to expand its RLUSD stablecoin ecosystem:
- Recent Issuances: 425,000 and 625,000 RLUSD minted within 14 hours.
- Weekend Surge: 9.1 million RLUSD issued in 12 hours following listings on Revolut and Zero Hash.
👉 Explore the future of stablecoins with RLUSD
FAQ Section
1. How does Ripple Payments benefit businesses?
Ripple Payments reduces costs and settlement times for cross-border transactions, making it ideal for enterprises like Unicâmbio.
2. Why is the Brazil-Portugal corridor significant?
Both countries share strong economic ties, and Ripple’s network optimizes remittances between them.
3. What’s the purpose of RLUSD?
RLUSD provides a stable digital asset for traders and institutions, bridging crypto and traditional finance.
4. How does XRP’s utility grow with these expansions?
XRP serves as the liquidity backbone for Ripple Payments, driving demand through real-world use cases.
Keywords: Ripple Payments, XRP, RLUSD stablecoin, cross-border payments, Unicâmbio, Brazil-Portugal corridor, Monica Long
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