- Ripple partners with Fenasbac to foster Brazil’s fintech innovation.
- XRP Ledger (XRPL) to power fintech startups in Fenasbac’s accelerator.
- Collaboration aims to transform Brazil’s financial landscape via blockchain.
Ripple, a leader in enterprise blockchain and crypto solutions, has partnered with Brazil’s National Federation of Associations of Central Bank Servers (Fenasbac) to drive fintech innovation in the country. The collaboration will focus on Fenasbac’s “Next” blockchain accelerator program, as announced in a press release.
Recognizing Brazil’s favorable regulatory environment and strong developer community, Ripple sees the country as a prime target for investment in blockchain technology and financial services innovation. Silvio Pegado, Ripple’s Managing Director of LATAM, commented:
“As a global leader in financial innovation, we believe Brazil provides an ecosystem that fosters both technology advancement and progressive policies in blockchain. We see Brazil’s forward-thinking approach as a catalyst for transforming financial services across international markets.”
Fenasbac’s Next program aims to support burgeoning fintech companies and startups with resources, mentorship, and investment opportunities. Through this partnership, Ripple will sponsor two promising fintech ventures that plan to leverage blockchain technology, particularly the XRP Ledger (XRPL).
These sponsored companies are exploring a wide range of blockchain applications, from payments and asset tokenization to treasury management and lending platforms. Ripple and Fenasbac are committed to nurturing these startups, providing them with the resources and guidance needed to become industry leaders.
Rodrigo Henriques, Fenasbac’s Innovation Director, expressed enthusiasm for the partnership with Ripple, stating that it will accelerate blockchain adoption and drive financial innovation in Brazil. Henriques believes this collaboration can stimulate economic growth by transforming Brazil’s financial landscape through the convergence of various stakeholders within the sector.
Despite this positive development for Ripple, its native cryptocurrency, XRP, has experienced a 6% dip in the past 24 hours. However, XRP currently trades at $0.6128 and has seen a significant 28% surge in the last 30 days.
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