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Ripple Opens Brazil Office

Blockchain and cryptocurrency project Ripple has established itself in Latin America with the opening of its new office in Brazil, as reported by Cointelegraph Brazil today. The official announcement will actually be made tomorrow at a big fintech and banking event in the capital, CIAB Febraban.

The former CEO of Brazil subsidiary of The Warranty Group, Luiz Antonio Sacco, has been named to lead the new office, just three months after joining Ripple.

Sacco has made public the company’s intentions to bring in more clients onto its payment network, RippleNet, starting with Brazil but also spreading its feelers across the entire continent of South America. The network already has its solution adopted by three major Brazilian financial institutions: Santander Brasil, BeeTech Global and Banco Rendimento.

He said [translated]:

 “We are excited to expand our ecosystem in the region and bring more financial institutions connected to RippleNet, which will contribute to the greater efficiency of global payments and, above all, a better experience for its customers. and Ripple has differentiated itself in this sector because it offers proven solutions to solve real problems, opening the way to the rest of the South American continent.”

In addition to bringing in the benefits of faster and cheaper payments, Ripple has also expressed intentions to collaborate with major local universities in the country to launch educational and training programs. These partners already include the University of São Paulo and Fundação Getúlio Vargas. The latter had already launched a Bitcoin masters program last year, while the former also added a Cryptocurrencies module to its Derivatives course.

The country is among several in the region now moving itself towards some form of blockchain adoption, with the government ordering the establishment of a Committee for Cryptocurrency Regulation back in March.


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