Ripple is not wasting its time when it comes to global expansion. The company has just opened a new office in Brazil – a strategic move that will help Ripple support their ever growing client base South America.
The new office will enable all regional customers be closer to the San-Francisco-based startup. Ripple has already secured several partnerships with companies and financial institutions such as Santander Brasil, BeeTech Global, and Banco Rendimento. The goal of the partnerships is for the 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 country manager of Ripple’s office is none other but Antonio Sacco, who is the former CEO of the Brazilian subsidiary of The Warranty Group. Mr. Sacco is not actually new to Ripple as he had already joined the company in March of 2019. His experience in regional strategy, banking and product management have all contributed to his new appointment.
According to press, Brazil is actually the “melting pot” when it comes to cryptocurrencies and their development in South America. While the country is not fully “embracing” the trading of digital coins, more and more people are actually turning to cryptos for investment and opening brokerage accounts.
As quoted by Finance Magnates, the parent company of Brazil’s largest independent broker, Grupo XP, announced that it is launching a cryptocurrency exchange.