• Brazil’s clear banking regulations are playing an essential role in the company’s expansion, says Ripple.
  • Ripple is also planning to expand the company in Chile, Peru and Argentina.

According to a Reuters report, Ripple is getting ready to announce new Brazilian partnerships early in 2020. Luiz Antonio, Ripple’s managing director, stated that Brazil’s clear banking regulations are playing an essential role in the company’s expansion in the country. Ripple is discussing the usage of XRP for remittances with banks and regulators.

Ripple is already working with Santander Brasil, Bradesco, and Rendimento, which use Ripple’s payment messaging system. However, none of the companies are using XRP. Back in July, Ripple had launched a new office in Brazil. According to Sacco, about 30% of Ripple’s total transaction volume is now moving through the country. 

Ripple stated:

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 customers. Brazil is a leader in fintech innovation and positioned to forge a path for the rest of Latin America to follow.

Apart from Brazil, Ripple is planning to expand into more South American countries, like Chile, Peru and Argentina.


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Cash Price Analysis: BCH is up 50% in the past four days

BCH was trading sideways throughout October and most of November until a massive 20% breakout on November 21, driving Bitcoin Cash price above $300 for the first time since September 2.

More Bitcoin Cash News

Chainlink price rise to $20 may be compromised by several technical indicators

On November 21, Chainlink had a significant breakout above an ascending parallel channel with a lot of continuation from a low of $13.6 to a peak at $16.39 established on Tuesday.

More Chainlink News

EOS price wakes up and surges to $3.77, but technicals point to a steep correction

EOS has traded relatively flat in November despite the entire crypto market turning bullish. Finally, EOS price woke up, jumping from a low of $2.63 on November 20 to a current peak at $3.77. 

More EOS News

ETH and XRP go ballistic, lead the altcoin bull cycle

Altcoins have in the last 24 hours rocketed to new levels, including Ethereum, Ripple and Bitcoin Cash. Ether and XRP hit new yearly highs, while BCH has added more than 17% to its value to trade at $345. 

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast

BTC

ETH

XRP