05 Mar, 2025
Ripple: Expanding Digital Asset Adoption Across the EU
The recently announced partnership between Ripple and Unicâmbio, Ripple’s first in Portugal, will provide a faster, cheaper and more transparent payment corridor with Brazil. This latest milestone is part of Ripple’s growing momentum in Europe as the region capitalizes on the implementation of the Markets in Crypto-Assets Regulation (MiCA) and its increasing importance to expanded adoption of digital asset services.
Modernizing Cross-Border Payments Between Portugal and Brazil
Portugal and Brazil boast strong economic and cultural ties today, with millions of dollars in payments flowing between the two countries every month.
But like with many payment corridors, money movement is often a slow, expensive proposition because of outdated international payment mechanisms—burdening recipients with long settlement times and high fees. Now, Ripple and currency exchange provider Unicâmbio are bringing crypto-enabled cross-border payments to Portugal to modernize this payment corridor and support fast, reliable, affordable transactions.
With Ripple Payments, Unicâmbio’s corporate customers can move funds affordably and in mere minutes, 24/7/365. Commenting on the new partnership, Adriana Jerónimo, Executive Board Member at Unicâmbio said: “Ripple’s crypto-enabled payments solution enables near-instant settlement and drastically reduces costs compared to traditional payments channels, delivering real value to our customers."
This efficiency and cost-savings is possible because Ripple’s global payment network reduces the number of counterparties in a payment flow to lower costs, minimize points of failure and streamline the payment experience. Ripple Payments also provides near real-time settlement and complete visibility into fees and payment status throughout a transaction for better cash flow management. Businesses that transact across borders can do so safely and with confidence knowing that Ripple Payments is highly secure and fully compliant with global regulations.
Key to the success of this partnership is Ripple's established presence in Brazil. Leading providers like Travelex Bank and Mercado Bitcoin—Latin America’s largest cryptocurrency exchange—are already active members of the Ripple network and will serve as partners to Unicâmbio for payments between the two countries.
Europe Moves to the Fore of Crypto
While the partnership marks the introduction of Ripple Payments into Portugal, it’s only the latest example of Ripple’s growing presence in Europe.
Ripple Custody partnerships with European-based banks like DZ Bank and BBVA Switzerland, the addition of Societe Generale’s new stablecoin to the XRP Ledger, and Ripple’s recently opened office in Geneva are just a few of the company’s European milestones from the past year.
It’s evident that blockchain and digital assets are transforming financial services, and growing adoption rates coupled with the rapid pace of innovation has finance leaders eager to implement their own digital asset strategies.
A week following the partnership announcement, Ripple and PwC brought regional business leaders—including Unicâmbio—together in Lisbon to discuss key blockchain use cases including crypto-enabled payments, digital asset custody, and tokenization of real-world assets. The event offered attendees an opportunity to network with leading blockchain experts, fintech innovators and industry peers to explore how collaboration can accelerate Portugal’s rapidly evolving digital landscape
The importance of the European market to the future of digital assets is due in large part to growing interest and commitments from business leaders across the region.
According to Ripple’s latest New Value Report, more than 90% of global finance leaders believe blockchain will have a significant impact on finance and business, with 89% of European leaders indicating an openness to adopting crypto, stablecoins or Central Bank Digital Currencies (CBDCs). Drilling down into specific use cases, 41% of European leaders surveyed said they plan to use crypto for cross-border payments.
Another key to Europe’s appeal is a maturing digital asset regulatory framework that has made it easier to do business across the region. MiCA is now fully in effect, providing legal certainty and harmonizing rules in the EU so that businesses can gain full access to the bloc by becoming authorized in any one of its 27 European member states. The guidelines also touch on stablecoin issuance, tokenization and more—serving as a powerful blueprint for encouraging innovation through regulation.