Ripple, a leader in enterprise blockchain and crypto solutions, has partnered with Fenasbac, the National Federation of Associations of Central Bank Servers in Brazil, to propel financial technology (fintech) innovation in the country. This collaboration leverages Fenasbac’s Next accelerator program, the largest within Brazil’s financial sector, to empower early-stage fintech companies building solutions with blockchain technology, particularly the XRP Ledger (XRPL).
Next, led by Fenasbac, provides crucial resources for promising fintech startups. This includes mentorship, access to valuable resources, and potential investment opportunities. Through this partnership, Ripple will sponsor two fintech companies focusing on developing scalable solutions in areas like treasury management, asset tokenization for payments, and borrowing and lending, all powered by blockchain technology.
“We are thrilled to extend our partnership with Fenasbac and empower Brazilian startups that leverage blockchain technology to tackle real-world financial challenges,” said Silvio Pegado, Managing Director of LATAM at Ripple. He further emphasized Brazil’s potential, stating, “As a global leader in financial innovation, we view Brazil’s ecosystem as fostering both technological advancement and progressive policies in blockchain. Their forward-thinking approach is a catalyst for transforming financial services across international markets.”
Fenasbac also expressed their enthusiasm about the collaboration. “It is an honor for Fenasbac to engage with the international market and act as a gateway for the Brazilian financial innovation ecosystem,” said Rodrigo Henriques, Innovation Director at Fenasbac. “Our initiatives unite various stakeholders within the sector, driving significant transformations in practices and discussions. Partnerships like this one with Ripple reinforce our commitment to fostering blockchain technology and innovative solutions that benefit society as a whole.”
This isn’t the first time Ripple and Fenasbac have joined forces. Previously, they collaborated on research projects with the Federal University of Rio de Janeiro (UFRJ) and Polkadot, exploring blockchain interoperability solutions for the Brazilian digital currency (DREX) in collaboration with the Central Bank of Brazil.
Brazil’s progressive stance on digital assets and its well-established developer community make it an attractive target for Ripple. The country boasts a sophisticated digital payments infrastructure and pragmatic digital currency policies. As a core contributor to the XRPL, Ripple is committed to supporting teams worldwide that are utilizing the XRPL to develop solutions promoting a more inclusive and efficient global financial system.
Individuals interested in learning more about the XRPL can explore various resources, including the XRPL Developers Discord, the XRP Ledger Learning Portal, and the comprehensive documentation available on XRPL.org. Additionally, Brazilians can participate in the growing number of XRPL community events and hackathons to connect with like-minded individuals and stay updated on the latest developments within the XRPL ecosystem.