Blockchain Startup Ripple Expands Presence In South America With New Brazil Office

Announcements, Blockchain, News | June 11, 2019 By:

Distributed ledger firm Ripple has opened a new office Brazil to support their growing client base in South America.

The new office, which will be officially at a major FinTech and banking event in São Paulo that will be held from June 11 to June 13, brings Ripple closer to their regional customer base. The company has already secured several partnerships with companies and financial institutions, such as Santander Brasil, BeeTech Global, and Banco Rendimento. The partnerships will allow customers to use Ripple’s product RippleNet, which is the tool through which more than 200 payment providers and financial institutions are connected for international remittances.

The new Brazilian office will be led by Luiz Antonio Sacco, the former CEO of the Brazilian subsidiary of The Warranty Group. Sacco, who joined Ripple in March of this year, said the initiative aims to lure customers to its payment network RippleNet and target potential clients not only in Brazil but also in the entire South American continent.

Ripple will also partner with major Brazilian universities, including the University of São Paulo and Fundação Getúlio Vargas, to launch educational and training programs. According to Sacco, investment in education will play a key role in promoting blockchain technology, while the research in the field is expected to expand career opportunities in the region.

Earlier this month, UseTheBitcoin reported that Ripple has also opened an office in Zurich, Switzerland to sell its native token XRP to institutional investors.