Ripple expands its alliance with the National Federation of Associations of Central Bank Servers (Fenasbac) to promote XRP Ledger use in Brazil.
Ripple disclosed details of this latest collaboration via its official website on Monday. The report noted that the synergy with Fenasbac seeks to promote the development of efficient financial solutions that most satisfactorily leverage networks like the XRP Ledger technology.
Ripple Funding Firms That Best Use XRP Ledger
Notably, Fenasbac leads Next, the most prominent accelerator program in Brazil’s financial landscape. Next furnishes emerging fintech with robust growth potential with resources, mentorship, and investment opportunities.
Through Brazil’s Next accelerator program, Ripple plans to fund two fintech firms working on scalable blockchain-based solutions for various applications. These include asset tokenization payments, treasury management, and lending and borrowing.
As a key contributor to XRPL, Ripple continues to support global teams that use the XRP blockchain to develop solutions that will create a more efficient and inclusive financial system.
Earlier this month, Ripple opened applications for emerging firms in Japan and Korea that leverage XRPL to seek grants.
Ripple and Fenasbac in Second Phase Alliance
Notably, this latest announcement marks the second partnership between Ripple and Fenasbac. It expanded on the collaborative research efforts with Polkadot and the Federal University of Rio de Janeiro.
These initiatives focus on exploring blockchain interoperability solutions for Brazil’s digital currency (DREX) in collaboration with the country’s central bank. Brazil stands out as Ripple’s first choice for targeted investment due to its developer community, digital currency policies, and advanced payments infrastructure,
Silvio Pegado, Ripple’s managing director for LATAM, expressed enthusiasm for extending the collaboration with Fenasbac, which aims to support Brazilian startups using blockchain to solve practical financial problems.
He emphasized Ripple’s conviction that Brazil offers a conducive environment for technological innovation and progressive blockchain policies. Ripple views Brazil’s visionary stance as pivotal in revolutionizing financial services on a global scale.
Rodrigo Henriques, the Innovation Director at Fenasbac, expressed pride in engaging with the global market and serving as an entry point to Brazil’s financial innovation landscape. Henriques emphasized that collaboration with Ripple underlines their dedication to advancing blockchain and promoting solutions that positively impact society.
Notably, Fenasbac boasts a history spanning over fifty years. It originally focused on offering financial services to Central Bank employees. However, it has evolved to become a leader in financial innovation. This transformation includes the development and management of ecosystems like Lift and Next.
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