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Ripple sees Brazil’s forward-thinking approach to crypto and the blockchain ecosystem as a catalyst for transforming financial services across international markets.
In a recent announcement, Ripple said it will be part of Fenasbac’s upcoming blockchain accelerator program, known as Next. This program offers businesses resources, mentorship, and investment opportunities to early-stage fintech companies with significant growth potential.
Ripple to Support Two Blockchain Projects
By joining the blockchain accelerator program, the blockchain firm aims to sponsor two fintech companies focused on leveraging blockchain technology, including the XRP Ledger. These companies will develop solutions in areas such as payments, asset tokenization, treasury management, and borrowing and lending.
Together with Fenasbac, Ripple will provide the startups with the necessary resources to scale their businesses and succeed within the crypto economy.
The recent partnership marks the second collaboration between Ripple and Fenasbac to empower startups in Brazil, helping them reach their full potential.
Previously, Ripple and Fenasbac worked together on joint research initiatives with the Federal University of Rio de Janeiro (UFRJ) and Polkadot.
At the time, the company said the initiatives explored the possibilities of blockchain interoperability solutions for the Brazilian digital currency, DREX, with the support of the country’s central bank.
Solving Real-world Financial Problems
Commenting on the new alliance, Silvio Pegado, Ripple’s regional director for the LATAM market said the goal of the deal is majorly to support Brazilian startups in building innovative projects to address real-world financial challenges.
“We are excited to continue our partnership with Fenasbac and empower Brazilian startups leveraging blockchain technology to address real-world financial challenges. As a global leader in financial innovation, we believe Brazil provides an ecosystem that fosters both technology advancement and progressive policies in blockchain,” said Pegado.
Ripple sees Brazil’s forward-thinking approach to crypto and the blockchain ecosystem as a catalyst for transforming financial services across international markets.
The country is the first nation in the world to attract targeted investments from Ripple due to its advanced developer community, sophisticated digital payments infrastructure, and pragmatic digital currency policies.
Ripple Expands beyond Brazil
However, Ripple has since expanded its footprint beyond Brazil to other jurisdictions such as Japan and South Korea. Last month, the blockchain company announced the launch of a Japan and Korea fund aimed at driving blockchain innovation in these two markets.
The fund was accompanied by other blockchain initiatives to foster innovation on the XRP Ledger in both countries. The firm has also expanded its footprint to the United Kingdom to propel blockchain innovation in the region. The move is part of Ripple’s commitment as a core contributor to the XRPL blockchain to support teams globally in building innovative solutions that provide a more inclusive and efficient global financial system.
