US-based Ripple has joined forces with the National Federation of Associations of Central Bank Servers ( Fenasbac ) to augment the Brazilian fintech landscape. Ripple, known for its enterprise blockchain and crypto solutions, has announced a partnership with Fenasbac to promote fintech innovation in Brazil.

This collaboration will be executed through the Next accelerator programme, designed to support the development of scalable financial services leveraging blockchain technology, particularly the XRP Ledger. This partnership comes on the heels of Ripple launching a fund in Brazil aimed at supporting projects using the XRP Ledger. Supporting Brazilian fintech startups Fenasbac leads the Next accelerator programme, which provides mentorship, resources, and investment opportunities to ambitious early-stage fintech startups.

Ripple will sponsor two fintech startups within this programme, with a specific focus on blockchain solutions for treasury management, asset tokenization, payments, and lending. The initiative aims to enable these startups to leverage blockchain technology in addressing real-world financial challenges. Ripple’s team highlighted the importance of this partnership, emphasising their excitement to continue working with Fenasbac and support Brazilian startups in their blockchain endeavours.

Ripple views Brazil as a prime ecosystem for fostering technological advancement and progressive blockchain policies, making it a suitable environment for financial innovation. Building on previous collaborative efforts This collaboration leverages previous research efforts conducted jointly with the Federal University of Rio de Janeiro and Polkadot, which explored blockchain solutions for Brazil’s digital currency (DREX). Brazil has been chosen as Ripple’s first targeted investment country due to its advanced developer community and robust digital payments infrastructure.

The focus on Brazil is part of Ripple’s broader strategy to invest in markets with significant potential for blockchain technology adoption and innovation. Fenasbac’s officials highlighted the significance of international partnerships in boosting blockchain technology and fostering innovative solutions that benefit society. This partnership with Ripple reinforces Fenasbac’s commitment to advancing blockchain technology and supporting fintech innovation.

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