Ripple Officially Launches Operations in Brazil

Image from ripple.com

Ripple has been operating offices in San Francisco, New York, London, Mumbai, Singapore and Sydney. Almost a week ago, on June 5th, it was revealed that Ripple had opened an office in Switzerland.

Yesterday, on June 10th, an article surfaced revealing that Ripple will announce the opening of its Brazil office, at CIAB Febraban, a major fintech and banking event that will place in São Paulo from June 11 to June 13.

Ripple has officially confirmed the news today, via an announcement on its website. According to the announcement:

Ripple, the global leader in enterprise blockchain solutions for cross-border payments, launches operations in Brazil to expand its footprint in South America. In addition, Ripple is also bringing on seasoned fintech entrepreneur and executive Luiz Antonio Sacco as managing director to drive strategy and build the Ripple ecosystem in the region.

Ripple will exhibit at CIAB Febraban, from June 11 to 13, where it will showcase RippleNet, a global payments network that makes it easy for financial institutions and payment providers to send cross-border payments worldwide.

The announcement continues to explain that Ripple has more than a dozen Brazilian financial institutions and money transfer companies on RippleNet, such as Santander Brazil, BeeTech and Banco Rendimento. Other institutions that are known to be working with Ripple are: BEXS, Banco Bradesco, Itau Unibanco and Frente.

The announcement also reminds us that Ripple is experiencing dramatic growth, adding an average of two to three new financial institutions to RippleNet each week. Moreover, the company saw more transactions on the network in Q1 ’19 than it did in all of 2018. In 2019, Ripple is focused on growing its customer base and team in Brazil, and across South America including in countries such as Chile, Peru and Argentina.

Besides his participation at the excibit at CIAB Febraban, Luiz Antonio Sacco, the Regional Head of Brazil & South America at Ripple, will also be speaking at the Blockchain Summit Latam conference in Mexico, on July 4-5. You can find more details at our events section.