SÃO PAULO, Brazil, Thursday, August 8, 2024- Enterprise blockchain and crypto solutions firm Ripple announced on July 29 a strategic partnership with Fenasbac, Brazil’s National Federation of Associations of Central Bank Servers, to support innovation in the country’s fintech sector.
The collaboration focuses on Fenasbac’s Next accelerator program, which provides mentorship, resources, and investment opportunities for promising early-stage fintech companies.
Ripple will sponsor two startups leveraging the XRP Ledger, a decentralized blockchain built for business, to develop innovative solutions in areas like treasury management, asset tokenization, payments, and lending.
This marks the second collaboration between Ripple and Fenasbac, following their joint research initiatives with the Federal University of Rio de Janeiro and Polkadot to explore blockchain interoperability solutions for Brazil’s digital currency (DREX).
Brazil is the first country chosen by Ripple for targeted investment, recognizing its sophisticated digital payments infrastructure, strong developer base, and forward-thinking digital currency policies. The company is committed to supporting teams globally that utilize the XRP Ledger to build inclusive and efficient financial systems.
Ripple announcement’s full text can be reached here.
