Ripple Continues Expansion in South America

Posted on Dec 28, 2019

Ripple is continuing the development of operations in Brazil after collaborating with banks in the country to employ XRP in cross-border settlements. The tech company has already successfully partnered with the likes of Santander and Bradesco, with more financial institution alliances to be announced next year. These partnerships intend to simplify cross-border payments, in addition to Ripple aiming to widen the use of XRP across South America. In the past year there has been a 10% increase in cross-border settlements between Brazil and other countries, and Ripple’s CEO in Brazil has stated that advancements in banking regulation will ensure that opportunities in the country will continue to “grow greatly in the coming years”.