Project Ripple behind the third largest market capitalization of cryptocurrency XRP, has opened an office in Brazil to further expand throughout Latin America, the newspaper reports Cointelegraph.
According to the preliminary official statement will be made at the CIAB Febraban, the largest FinTech event, which will take place in são Paulo from 11 to 13 June.
It is planned that the data of the structural division, will lead Luiz Antonio Sacco, the former CEO of the Brazilian subsidiary of The Warranty Group, joined Ripple in March 2019.
The company intends to attract more customers to use their payment network RippleNet and focuses not only on Brazil but on the rest of the South American continent. To date, payment solution Ripple already supports three financial companies in Brazil including Santander Brasil, BeeTech Global and Banco Rendimento, the report says.
The launch of the training program
In addition to providing payment solutions, Ripple also plans to launch education and training programs, in collaboration with major Brazilian universities, including the University of são Paulo and FGV. Sacco noted that investment in education will play a key role in advancing the technology of the blockchain, while the research in this area is expected to expand career opportunities in the region.
As previously reported, the number of clients of the international network of Ripple, RippleNet exceeded 200 companies. Five clients: JNFX, SendFriend, FTCS, Transpaygo and Euro Exim Bank — XRP used in cross-border payments.
Recently, the Ripple project also unveiled plans to ensure a higher degree of reporting on volume and sales of XRP, after a recent report Bitwise, in which it was claimed that 95% of the volume of trading Bitcoins (BTC), is false.
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