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Ripple Chairman Announces Two Major Ripple Payment Extensions
In an important announcement posted on its official website on the X (formerly Twitter) platform, Ripple's Chair, Monica Long, revealed the new development steps of Ripple Payments. The news states that Ripple has partnered with Unicâmbio - the leading currency exchange service provider in Portugal - to expand cross-border payment gateways, while strengthening economic relations between Brazil and Portugal. Expand Market in Portugal and Bridge Brazil-Portugal Monica Long emphasized the importance of entering the Portuguese market, as their new partner Unicâmbio will enable their corporate customers to quickly and cost-effectively transfer cross-border payments through Ripple's payment network, previously known as On-Demand Liquidity (ODL). This collaboration not only expands the application scope of XRP - the third-largest digital currency by market capitalization - but also strengthens the payment system between Brazil and Portugal, connecting the deep economic and cultural relationships between the two countries. According to information from Ms. Adriana Jerónimo, a key executive director of Unicâmbio, this collaboration promises to bring many benefits to both parties. With Unicâmbio joining the Brazil-Portugal payment corridor, they, along with pre-existing customers such as Travelex Bank and Mercado Bitcoin in Brazil, will create a more efficient and multi-directional trading network, reducing costs and accelerating transactions. Stable Development of XRP and Payment Applications Despite the strategic partnership news creating excitement in the Ripple community, the price of XRP has only increased by about 5% in the past 24 hours, reaching a trading level around $2.50 USD. This indicates that despite the positive news about market expansion being well-received, the volatility of this digital currency remains stable in the context of a large and fluctuating market. The integration of XRP into the cross-border payment system further affirms the important role of this currency in providing fast, secure, and cost-effective payment solutions for business customers in many different countries. Ripple Continues to Push the RLUSD Stablecoin Product In addition to developments in payment systems, Ripple is constantly expanding its product portfolio with the release of its stablecoin – Ripple USD (RLUSD). According to data from Ripple Stablecoin Tracker shared on X, within the last 14 hours alone, Ripple Treasury has released two massive lots of RLUSD in the amount of 425,000 and 625,000 units, respectively. More notably, over the course of this past weekend, Ripple exploded with the release of up to 9,100,000 RLUSD in just 12 hours. These issuances are carried out immediately after RLUSD is listed on two influential platforms in the industry - the online banking application Revolut and the digital currency infrastructure platform Zero Hash. This not only helps strengthen market confidence in Ripple's stablecoin product but also opens up new trading and payment opportunities, promoting the development of the global digital currency ecosystem. Conclusion With the strategy of expanding the market through cooperation with Unicâmbio and continuously improving products such as RLUSD, Ripple is demonstrating its strong commitment to revolutionizing cross-border payment transactions. This event not only enhances the role of XRP in the European market but also creates a solid economic bridge between Brazil and Portugal, promising to open a new era for global payments. DYOR! #Write2Earn #BTCStateReserves $XRP {spot}(XRPUSDT)