Ripple Partners with Fenasbac to Boost Blockchain Innovation in Brazil

Ripple has announced its involvement in Fenasbac’s Next blockchain accelerator programme in Brazil. This initiative aims to provide early-stage fintech companies with resources, mentorship, and investment opportunities to foster significant growth.

Support for Blockchain Startups

Ripple plans to sponsor two fintech startups through the accelerator programme. These companies will focus on developing solutions using blockchain technology, including the XRP Ledger. Their projects will target areas such as payments, asset tokenisation, treasury management, and lending.

Partnership Goals

This new collaboration builds on Ripple's previous work with Fenasbac, including joint research with the Federal University of Rio de Janeiro (UFRJ) and Polkadot. The past initiatives explored blockchain interoperability for Brazil's digital currency, DREX, with the central bank's support.

Silvio Pegado, Ripple’s regional director for LATAM, emphasised that the partnership aims to help Brazilian startups create innovative solutions to real-world financial challenges. He highlighted Brazil's advanced digital payments infrastructure and progressive policies as key factors in the country's appeal for investment.

Ripple’s Broader Expansion

While focusing on Brazil, Ripple has also expanded its presence to Japan, South Korea, and the United Kingdom. The company recently launched a fund to drive blockchain innovation in Japan and Korea and continues to support global teams in developing solutions on the XRP Ledger. This effort aligns with Ripple's mission to enhance the global financial system through blockchain technology.

Ripple's aggressive global expansion and strategic partnerships illustrate its commitment to driving blockchain innovation. However, the success of these initiatives remains contingent on the ability of the supported startups to deliver impactful solutions and navigate complex regulatory environments.