And this new office will be managed by Luiz Antonio Sacco, former CEO of the Brazilian subsidiary of The Warranty Group, a global warranty solution provider.
Sacco, who joined Ripple in March 2019, said the company undertook the mission of bringing more customers to the payment network RippleNet, which targets not only Brazil but the entire South American continent.
Among the 3 clients that have already accepted RippleNet in Brazil are financial companies such as Santander Brasil, BeeTech Global and Banco Rendimento.
Apart from the great payment benefits, Ripple also plans to launch training programs in collaboration with major universities such as the University of S├úo Paulo in Brazil and the Foundation University of Get├║lio Vargas. Stating that investment in education is key to the development of Blockchain technology, Sacco says investments in this area will boost career opportunities in the region.
The Ripple payment network reached over 200 global customers earlier this year with RippleNet. In addition, 5 of these customers use XRP for cross-border payments. These 5 customers include JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank.
Following the recent publication of the Bitwise report, which claims that 95% of Bitcoin’s trading volume is fraudulent, Ripple is now working on it to accurately present XRP’s volume and sales figures.
Brazilian state bank BNDES announced last week that it financed a documentary with its Ether-based fixed-price crypto currency (BNDES token).
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