July 29, 2024– Ripple, the leader in enterprise blockchain and crypto solutions, and Fenasbac, the National Federation of Associations of Central Bank Servers, today announced a partnership to advance fintech innovation in Brazil through the Next accelerator program. Their combined effort will support the development of scalable financial services solutions that best leverage blockchain technology such as the XRP Ledger, a decentralized layer 1 blockchain built for business.
Led by Fenasbac, Next is the largest accelerator program in Brazil’s financial sector, providing mentorship, resources and investment opportunities to early-stage fintechs with strong growth potential. Ripple will sponsor two fintech companies that are developing scalable solutions that utilize blockchain technology in areas such as treasury management, asset tokenization payments, and borrowing and lending.
"We are excited to continue our partnership with Fenasbac and empower Brazilian startups leveraging blockchain technology to address real-world financial challenges," said Silvio Pegado, Managing Director of LATAM at Ripple. “As a global leader in financial innovation, we believe Brazil provides an ecosystem that fosters both technology advancement and progressive policies in blockchain. We see Brazil's forward-thinking approach as a catalyst for transforming financial services across international markets.”
"It is an honor for Fenasbac to dialogue with the international market and be a gateway to the Brazilian financial innovation ecosystem. Our projects manage to unite different agents in the sector, promoting a significant transformation in what is being done and discussed. Partnerships such as with Ripple reinforce our commitment to boosting blockchain technology and fostering innovative solutions that benefit society as a whole," says Rodrigo Henriques, Innovation Director at Fenasbac.
This marks Ripple’s and Fenasbac’s second collaboration, building on the joint research initiatives with the Federal University of Rio de Janeiro (UFRJ) and Polkadot, exploring blockchain interoperability solutions for DREX (Brazilian digital currency) in conjunction with the Central Bank of Brazil.
Brazil is the first country Ripple has chosen for targeted investment, recognizing the country’s advanced developer community, sophisticated digital payments infrastructure and pragmatic digital currency policies. As one of the core contributors to the XRPL, Ripple is committed to supporting teams around the globe that are leveraging the XRPL to develop solutions that provide a more inclusive and efficient global financial system.
To learn more about the XRPL, explore the XRPL Developers Discord, the XRP Ledger Learning Portal, and the extensive documentation available on XRPL.org. Individuals based in Brazil can also participate in the growing number of XRPL Community Events and Hackathons to engage with like-minded individuals and stay abreast of the latest developments in the XRPL ecosystem.
About Ripple Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages, tokenizes and stores value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon-neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.
About XRPL The XRP Ledger (XRPL) is a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging digital assets . Designed to support businesses and builders, it is powered by XRP, a cryptocurrency purpose-built for payments.
About Fenasbac Fenasbac, the National Federation of Central Bank Servants' Associations, has a legacy of more than five decades. Initially dedicated to providing financial services to Central Bank employees, it expanded its operations to stand out as a reference in financial and technological innovation through the creation and management of innovation ecosystems such as Lift and Next. In collaboration with the Central Bank, it seeks to develop initiatives that promote the advancement of the National Financial System, making it more modern, competitive and contributing to the strengthening of the national and international financial ecosystem.