While Ripple strengthens its global presence, it remains entangled in a legal battle with the SEC in the US. However, with Donald Trump’s return to the presidency, Ripple anticipates favorable regulatory shifts and plans to hire 75% of its workforce in the US.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Ripple, the world’s leading blockchain infrastructure provider, is steadily expanding its global footprint to make crypto payments easier for millions of customers worldwide. On Monday, February 10, 2025, the company announced a partnership with Unicâmbio to support instant cross-border payments in Portugal.
According to the official announcement, through this partnership, Unicâmbio’s institutional customers will be able to tap into Ripple Payments to offer their customers faster, cheaper, and more efficient payments. This move aims to streamline international transactions, reducing friction and costs while enhancing financial connectivity between Portugal and Brazil.
Planting the Ripple flag in Portugal today with Unicâmbio, our first Portuguese client and the country’s leading currency exchange provider! Using Ripple Payments, their corporate customers can now move funds near instantly between 🇵🇹 & 🇧🇷. https://t.co/ruOdZnHtAT
— Ripple (@Ripple) February 10, 2025
Ripple said the collaboration with Unicâmbio marks its first official expansion into the Portuguese market, reinforcing its position in Europe’s rapidly growing blockchain sector. According to the company, the decision to enter the market aligns with the country’s growing reputation as a crypto-friendly destination.
Over the past few years, Portugal has seen an increase in crypto adoption, attracting blockchain startups, investors, and digital asset businesses.
Portugal initially gained recognition for its progressive stance on digital asset taxation, offering tax-free benefits to individual investors. However, regulatory changes in 2023 introduced a 28% capital gains tax on crypto profits for assets held for less than a year, aligning with broader European Union policies.
Despite this shift, Portugal remains an attractive hub for crypto innovation, supported by clear regulatory frameworks and a growing blockchain ecosystem.
Ripple’s entry into the country signals confidence in Portugal’s market potential, as Unicâmbio’s integration of Ripple Payments will allow financial institutions to leverage blockchain technology for seamless international transactions.
Ripple’s expansion into Portugal is part of a broader European growth strategy. The company has steadily built its presence across the region, securing regulatory approvals and forming partnerships with financial institutions to enhance cross-border payment solutions.
With over a decade of experience in digital asset infrastructure, Ripple has become a key player in modernizing financial systems through blockchain technology.
Beyond Europe, Ripple has firmly established itself in Brazil, a country with deep economic and cultural ties to Portugal. The company has been operating in Brazil since 2019, forging partnerships with major financial players like Travelex Bank and Mercado Bitcoin, Latin America’s largest crypto exchange.
Despite its global success, Ripple continues to face legal challenges in the United States. The company has been embroiled in a prolonged lawsuit with the US Securities and Exchange Commission (SEC) over the classification of XRP, Ripple’s native token. While Ripple secured a partial victory in 2023, the SEC’s ongoing legal actions remain a hurdle for the company’s operations in its home country.
However, a shift in the US political landscape could change Ripple’s outlook.
With the inauguration of President Donald Trump, Ripple is now setting its sights back on the US market, anticipating regulatory changes that could create a more favorable environment for crypto businesses. The company has announced plans to hire 75% of its workforce from the United States, signaling a renewed focus on domestic growth.
Before now, Ripple had criticized the US for its stringent regulatory stance, which led to many blockchain firms exploring opportunities abroad. If new policies provide clearer guidelines for digital assets, Ripple could re-establish itself as a dominant player in the American financial ecosystem while continuing its global expansion.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
