Ripple Announces New Blockchain Partnership in Brazil

Ripple has announced its participation in Fenasbac's upcoming blockchain accelerator program known as Next.

This program aims to support early-stage fintech companies based in Brazil with high growth potential by providing resources, mentorship and investment opportunities.

By joining the Next blockchain accelerator program, Ripple aims to sponsor two fintech companies that focus on using blockchain technology, specifically XRP Ledger. These companies will develop innovative solutions in areas such as:

• Payments
• Asset tokenization
• Cash Management
• Borrowing and lending

Ripple, in collaboration with Fenasbac, will provide these startups with the resources they need to expand and thrive in the crypto economy. This partnership represents the second collaboration between Ripple and Fenasbac to support startups in Brazil, helping them reach their full potential.

Ripple and Fenasbac had previously joined forces in initiatives with the Federal University of Rio de Janeiro (UFRJ) and Polkadot. These initiatives aimed to explore the possibilities of blockchain interoperability solutions for the Brazilian digital currency DREX, with the support of the country’s central bank.

Silvio Pegado, Ripple’s regional director for the LATAM market, highlighted the main goal of the partnership: to support Brazilian startups in building innovative projects that solve real-world financial challenges.

Ripple reportedly sees Brazil’s proactive approach to crypto and blockchain as a key factor in transforming financial services in international markets. The country’s ecosystem is conducive to both technological advancements and the development of progressive blockchain policies, making it an ideal environment for Ripple’s initiatives.