Ripples Partnership with Fenasbac: Blockchain Innovations in Brazil

Ripple Forms Partnership with Fenasbac in Brazil

Ripple has announced a strategic partnership with Fenasbac aimed at furthering blockchain technology innovation in Brazil. This collaboration is meant to support Brazilian startups in creating innovative projects that address real financial issues in the country.

Next Accelerator Program for Startups

As part of the partnership, Ripple will participate in Fenasbac’s accelerator program called Next, offering support to startups in the form of resources, mentoring, and investment opportunities. The company will focus on supporting two blockchain projects that focus on utilizing blockchain technology, including XRP Ledger.

Developing Blockchain Solutions in Brazil

The projects will develop innovative solutions in areas such as payments, asset tokenization, cash management, as well as lending and credit provision. Previously, Ripple collaborated with Fenasbac on researching blockchain interoperability solutions in Brazil, in partnership with the Federal University of Rio de Janeiro and Polkadot, exploring the development potential for the Brazilian digital currency, DREX.

Ripple’s Expansion into Global Markets

Brazil has become the first country to attract Ripple’s interest and receive the company’s targeted investments, due to its vibrant developer community, advanced digital payment infrastructure, and pragmatic policies concerning digital currencies. In addition to Brazil, Ripple is also expanding its operations to markets such as Japan, South Korea, and the United Kingdom.

New Initiatives in the Japanese, Korean, and British Markets

The company recently announced the establishment of a fund for Japan and Korea to foster blockchain innovation in these markets. Furthermore, Ripple has extended its presence into the United Kingdom to accelerate blockchain technology innovations in that region.