Ripple, the enabler of enterprise blockchain and crypto solutions, and Fenasbac, the National Federation of Associations of Central Bank Servers, 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 said to be “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 be supporting 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.”
Silvio Pegado, Managing Director of LATAM at Ripple, said:
“We are excited to continue our partnership with Fenasbac and empower Brazilian startups leveraging blockchain technology to address real-world financial challenges. 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.”
Rodrigo Henriques, Innovation Director at Fenasbac said:
“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.”
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.”
