Ripple Launching New Hub in Brazil to Expand Network Across South America: Report

Ripple has reportedly launched an office in Brazil to expand its operations in South America. At the helm is Luiz Antonio Sacco, former CEO of the Brazilian subsidiary of The Warranty Group, a global warranty solution provider.

The new office will serve as Ripple’s hub for all of South America, according to a report by Cointelegraph Brazil.

The company already has a foothold in Brazil through its partnerships with BeeTech Global, Santander Brasil and Banco Rendimento. It aims to connect more financial institutions across the continent to RippleNet, a global network of over 200 banks and payment providers that use Ripple’s solutions for cross-border remittances. Says Sacco,

“We are excited to expand our ecosystem in the region and bring more financial institutions connected to RippleNet, which will contribute to the greater efficiency of global payments and, above all, a better experience for its customers. and Ripple has differentiated itself in this sector because it offers proven solutions to solve real problems, opening the way to the rest of the South American continent.”

The official announcement is expected to be made in São Paulo during CIAB Febraban, an upcoming banking event from June 11 to June 13.

Ripple is also building on its education initiatives by collaborating with 15 professors at the University of São Paulo (USP) and Fundação Getúlio Vargas (FGV) to develop courses on blockchain technology.

Sacco says that training at the university level will play a key role in advancing real-world applications.

“USP and FGV are innovative institutions that, in addition to investing in research into new uses for blockchain, are empowering their students in new technologies that will mean new career opportunities.”

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