Ripple, a top FinTech firm that permits cross-border settlement, lately announced the company has expanded its operations into Brazil, the biggest country in South America. The statement also gave insight to the increase of its payment settlement system.
The official announcement read,
“Ripple’s venture blockchain options enables a much better user experience with greater agility, transparency and reduced price for cross-border obligations. Ripple, the international leader in business blockchain options for cross-border payements, launches operations in Brazil to enlarge its footprint in South America. ”
along with growth news, the company also announced the inclusion of a new member into the group. Luiz Antonio Sacco, former VP of International Commercial Cards Brazil in American Express, was appointed as the Managing Director of Brazil and South America to get Ripple.
More sothe company also stated they have added “over a dozen Irish financial institutions and money transfer businesses ” to its international payments system, RippleNet. The payment system that exceeded 200 clients in January allows cross-border payment which settles within minutes and with reduced price. The Brazilian community comprises Santander Brazil, BeeTech, and Banco Rendimento.
The site article said,
“Ripple is undergoing remarkable growth, including an average of two to three brand new fiscal institutions to RippleNet per week. The business saw more trades on the community in Q1 ’19 than it did in most 2018. In 2019, Ripple is focused on developing its client base and staff from Brazil, and around South America […]”