- Ripple holds close-door meeting with Central Bank of Brazil to discuss “institutional matters”
As previously reported on BitcoinNews.com, Ripple had established itself in South America with the opening of an office in Brazil’s Sao Paulo. A remittance market value of USD 2.5 billion in Brazil makes it an attractive target for Ripple to offer cross market transfers with XRP.
Last year, Luiz Antonio Sacco revealed the Ripple’s plan to strengthen relationships with Brazil’s financial institutions throughout 2020. Notably, the company has kept up with the announcement as Ripple has already established partnerships with major local players such as Santander, Bradesco, and Banco Rendimento.
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