Ripple has recently announced that it is launching its operations in Brazil. The Brazil operations will kick off with an exhibit at CIAB Febraban, Sao Paolo, from June 11 to 13, where it will showcase RippleNet. Seasoned fintech entrepreneur and executive Luiz Antonio Sacco will be the Managing Director to drive strategy and build the Ripple ecosystem in the region.

The Brazil operations will help Ripple focus on growing its customer base and team in South America which includes Brazil, Chile, Peru, and Argentina.

Eric van Miltenburg, SVP of Global Operations said,  “In January, Ripple surpassed 200 customers on RippleNet. The company is experiencing rapid customer growth across all markets and is launching in Brazil in response to high customer demand in South America. We are fortunate to have Luiz on board to expand our presence in the region and help our customers address the challenges of cross-border payments.”

Ripple is adding an average of two to three new financial institutions to RippleNet each week. Q1 ’19 saw more transactions than all of 2018.

Ripple already has more than a dozen Brazilian financial institutions and money transfer companies on RippleNet, the important ones include:

As a part of its University Blockchain Research Initiative (UBRI),  the company has provided resources to top tier Brazilian universities, including the University of São Paulo and Fundação Getulio Vargas. The company is working with over fifteen professors at these universities to help support academic research and technical development across disciplines including law, business, and engineering.

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