tl;dr
Monica Long, Ripple's president, announced a strategic partnership with Portugal's leading currency exchange provider, Unicâmbio. This partnership allows corporate clients to use Ripple's payment network for cross-border transactions. Additionally, Unicâmbio has joined the Brazil-Portugal payments c...
Ripple President Monica Long has announced a strategic partnership with Portugal's leading currency exchange provider, Unicâmbio. This partnership expands Ripple's payment network and strengthens the Portugal-Brazil corridor, allowing corporate clients to use Ripple for cross-border transactions.
Additionally, Ripple has injected significant amounts of its stablecoin, RLUSD, into the market following listings on Revolut and Zero Hash. The partnership with Unicâmbio allows corporate customers to utilize Ripple's payment network for cross-border transactions, expanding Ripple's presence in Europe and strengthening the Portugal-Brazil payments corridor.
Monica Long's announcement on social media highlighted the importance of adding Portugal to the Ripple Payments network and expanding the vital Brazil-Portugal corridor with Unicâmbio joining existing clients. This move significantly increases XRP's footprint in Europe and reinforces the Portugal-Brazil payments corridor provided by Ripple. The two countries have deep economic and cultural ties, further enhancing the partnership's significance.
Despite these significant developments, XRP has only demonstrated a marginal increase of 5% in the past 24 hours, trading at $2.50291 at the time of writing. However, Ripple continues to inject its stablecoin, RLUSD, into the market after scoring listings on major crypto-related platforms, including Revolut and Zero Hash.