Ripple has partnered with Portuguese currency exchange
provider Unicâmbio to offer instant international payments between Portugal and
Brazil. The service uses Ripple’s payments platform, which incorporates digital
assets to facilitate cross-border settlements.
Unicâmbio’s corporate customers can transfer funds and
settle payments within minutes. Ripple said this is its first entry into the
Portuguese market.
Meanwhile, the XRPUSD H1 chart shows a bearish correction in
progress. The uptrending trendline support could play a crucial role in
determining the next movement on the intraday charts.
Ripple Links Portugal-Brazil for Faster Transfers
“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 for the UK and Europe at Ripple.
Ripple’s payments system operates on the XRP Ledger. Users
can send and receive various currencies, including fiat and crypto assets,
through a financial institution network using the XRP token.
“By connecting our payment networks in Portugal and
Brazil we are facilitating faster, more cost-effective cross-border payments,
while strengthening the economic bridge between these two major markets,” Craddock
added.
This article was written by Tareq Sikder at www.financemagnates.com.
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