Monica Long, the head of Ripple, has drawn attention to the increasing importance of cryptocurrencies in Latin America, with Brazil standing out as a major player in this field.
The president of Ripple emphasized Brazil’s increasing importance in the cryptocurrency world. He pointed out Brazil’s involvement in traditional finance, forward-thinking regulatory attitude, and expanding developer base as key reasons for this growth.
Brazil has become a significant player in the crypto world due to its progressive regulations, offering clarity and legal security for businesses dealing with cryptocurrencies within its jurisdiction.
Lately, Brazil has made significant strides in controlling and supporting cryptocurrencies, understanding their capability to enhance financial accessibility for all and foster economic advancement.
“Ripple’s president pointed out in a tweet that Brazil is rapidly emerging as a significant crypto center on a global scale, thanks to its progressive regulators, clear regulations, TradFi involvement, and expanding developer community.”
Brazil is rapidly emerging as a significant player in the global crypto scene due to its progressive regulators, definite regulations, TradFi involvement, and expanding developer community. A big thank you to Web Summit Rio for providing me, Ysiu, and KristinaLCorner with the opportunity to share insights on stage today!
— Monica Long (@MonicaLongSF) April 16, 2024
At the Web Summit Rio, held in Rio de Janeiro, Brazil, Long was among the 30,000 attendees and businesses shaping the future of technology.
Ripple recognizes Brazil’s increasing influence on the cryptocurrency scene and its capability to spark crypto usage across Latin America. Notably, Ripple has established its first South American office in this country.
In June 2023, Ripple collaborated with Colombia’s central bank, Banco de la República, to investigate the application of blockchain technology as part of their expansion efforts in Latin America.
The MinTIC-led blockchain trial, involving the use of Ripple’s CBDC platform, aims to enhance the premium payment system of Banco de la República.
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2024-04-17 18:41