Ripple is pushing for Expansion in Brazil and South America

Ripple is preparing, at the beginning of next year, a new Brazilian Bank to announce partnerships, according to a report from Reuters.

Ripple has always been eager to expand its presence in the world. The focus of the company is the use of the XRP Tokens, which Ripple out to promote the software solution On-Demand Liquidity (ODL) is. As the report from Reuters suggests could be the Brazilian market is of great importance for Ripple.

Brazil is a booming market, which is definitely a convincing reason for Ripple to expand in the country. This is currently still in the beginning phase. Ripple intends to promote the national and international financial transactions and, consequently, to the improvement of the economy of the country to contribute, as Luiz Antonio Sacco, CEO of Ripple in Brazil, noted.

In the context of the Expansion of Ripple is already working with major banks in the country, such as Bradesco, Rendimento, and Santander. Since Brazil is one of the booming places with advanced growth in the Fin-Tech area, explains Luiz Antonio, that this step is profit for Ripple is definitely profitable.

Sacco says that the clear provisions of the country in to digital Banking will play a key role in the company’s Expansion to Brazil. The company is talking with banks and regulatory authorities about the use of XRP for Transactions. The Startup company out of San Francisco opened in July with a new office in Brazil, and, according to Sacco about 30 percent of the total transaction volume of Ripple to move through the country. Sacco said:

We are looking forward to expand our Ecosystem in the Region, and other financial institutions to RippleNet connect, in order to provide their customers with excellent and efficient cross-border payment experiences.

Brazil is a leader in Fintech Innovation, and in the location, a path, which will follow in the Rest of Latin America.

The introduction of the Ripple to affect the cross-border payments strong and secure transactions. Once it has established itself in the digital payment due, it would be a great way to establish a money on regulation and money laundering-to keep crime under control. The benefits of the company’s commitment in the Brazilian Fin-Tech sector could soon also in the economy of the country reflect

With the recent activities of the company, it seems as if the Ripple for the upcoming fiscal year, intends to do a lot. First of all, the recent Expansion into the South American market. In addition to Brazil, Ripple focuses on the Expansion in a number of other South American countries such as Chile, Peru and Argentina.

This year, the company had announced an investment in MoneyGram, the distribution of XRP is to be promoted. Ripple will provide to MoneyGram in accordance with the agreement on $ 50 million of equity to strengthen the business relations between the companies. For the past two years, the two companies work together. MoneyGram is certainly one of the most important strategic partners of Ripple for cross-border payments.

Despite the positive news for Ripple in this year, the price of XRP in a declining Trend. After he had reached in June, the annual high of 0.50 USD, is XRP since then in a bearish Trend and is currently trading at around $ 0.19, which represents a decline of over 65% in several months.

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