Ripple has joined forces with Unicâmbio, one of the oldest and largest foreign exchanges in Portugal, to make cross-border payments faster and easier. According to the announcement, both companies plan to work on this partnership so that people and businesses in the region can transact between Europe and Brazil using Ripple’s XRP and RLUSD-powered payment system.
In short, users will get quicker transfers, lower costs, and full transparency. Ripple’s system also runs 24/7, so businesses won’t be limited by bank hours or delays. This partnership would also integrate Ripple’s On-Demand Liquidity (ODL) which would allow Unicâmbio to send money across borders without needing to keep large amounts of cash in foreign bank accounts.
Instead, it uses digital tokens like XRP and RLUSD to complete payments instantly. With this system, Unicâmbio will be able to provide service to corporate clients, and also exchange funds between two and more businesses.
According to Adriana Jeronimo, the Executive Board Member at Unicâmbio. The company feels confident about using this route to expand the business due to the fact that Ripple is salable and has a large influence in the industry as well as vast knowledge of international payment.
“Working with a team that shares the same vision and who is as involved in the project as we are so that we can deliver the best value to our customers is exactly what Unicâmbio needs,” Adriana said.
Adriana said Ripple is the ideal firm to partner with because it has the system and technology with a “large global network and a quality solution at a cost to make sense of what Unicâmbio needs for international transfers”
Unicâmbio was founded in 1992 and handles over 3,000 transactions a day. It serves more than 280,000 customers worldwide and supports over 50 different currencies. With Ripple’s help, the company is opening new doors and building stronger payment connections around the world.
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