Ripple Labs, a leading multinational blockchain payment company based in the United States, has announced a strategic partnership with Unicâmbio, a well-funded Portuguese crypto-currency exchange. Through the strategic partnership, cross-border payments between Portugal and Brazil uniting Ripple Payments will be streamlined.

The Ripple Payments has grown to more than 80 payout markets, thus covering over 90 percent of global FX market coverage. The strategic partnership will further enable Ripple to increase its stake in the European market, especially amid the implementation of the Markets in Crypto-Asset (MiCA).

“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. 

Ripple Strengthens Via Robust Global Payment Networks

Over the past decade, Ripple Labs has inked dozens of strategic partnerships, especially with traditional financial institutions seeking to venture into the blockchain industry. For instance, the company has heavily capitalized on the US – Latin American payment corridor.

As a result, Ripple will tap on its existing partnerships in Brazil – including with Travelex Bank and Mercado Bitcoin – to facilitate the Portugal corridor.

“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.

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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.

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