Ripple Tread On Brazilian Waters To Spread RippleNet Adoption

The firm behind the XRP token, Ripple has just recently launched an office in South America in order to get more clients on board with RippleNet, the network for institutional payment-providers. The firm might also be teaming up with local universities in order to educate people on blockchain technology.

Brazilian Waters

According to the report, Ripple has launched a new office in Brazil to help spread the awareness of blockchain. The official announcement about the branch’s launch will be made at the CIAB Febraban event this week, however. The main aim of opening an office in the country is to increase the adoption of the RippleNet protocol by banks and other financial businesses in the nation.

The former chief executive of the local office for Warranty Group, Luiz Sacco will actually be looking over the new branch in Latin America. Joining Ripple in the Spring, Sacco has highlighted that Ripple intends to source for more customers that will use RippleNet.

Higher Education

On top of this, Ripple is planning to make moves into some universities to educate students on the benefits of blockchain. The San-Francisco based firm is looking to partner up with universities in Brazil to provide training programs, seminars and so on. Sacco has said that it will help to promote and distribute ledger technology as well as create awareness about cryptocurrencies like Ripple’s XRP token.

There’s been a huge debate on Ripple’s XRP over the past year or so, in that some community members believe it is decentralised and others claim that it is a centralised project. Its blockchain has even been called a scam in recent times too.

Ripple Gets SWIFTY

As reported by ZyCrypto:

“Currently competing with SWIFT, another cross border payment network, Ripple’s blockchain is reportedly used by over 200 firms across the world for transnational payments. The number could potentially spike in the upcoming months. For instance, Yoshitaka Kitao, CEO of the Strategic Business Innovator Group stated in February this year that by 2025, all banks in China should’ve adopted Ripple’s XRP for cross-border payments.”

The United States-based exchange, Coinbase announced in March that users of the platform would be able to send XRP as well as USDC around the world to as many as a hundred countries.