Ripple President Reveals Key Updates for XRP-Powered Payments

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Ripple President Monica Long announced two major developments for Ripple Payments on her official account on X (formerly Twitter). These updates stem from a new strategic partnership revealed on Monday. Long highlighted the addition of Portugal’s leading currency exchange provider, Unicâmbio, to Ripple’s network. This collaboration enables Unicâmbio’s corporate clients to make instant cross-border payments through Ripple Payments, previously known as On-Demand Liquidity (ODL).

Additionally, Long confirmed that Unicâmbio has joined the Ripple-powered Brazil-Portugal payments corridor. This move strengthens the existing network that includes Brazilian firms like Travelex Bank and Mercado Bitcoin.

Very excited to 1/ add another country (Portugal!) to the Ripple Payments network and 2/ grow the vital Brazil-Portugal corridor with Unicambio joining existing customers including Travelex Bank and Mercado Bitcoin! https://t.co/TW0kZQskPF https://t.co/DBW8HNVAMh
— Monica Long (@MonicaLongSF) February 11, 2025

Expanding XRP’s Utility and Reach

Ripple Payments continues to provide faster and more cost-effective cross-border transactions using the XRP token. This new partnership boosts XRP’s utility, expanding its presence in Europe and solidifying the Brazil-Portugal payments corridor. Unicâmbio executive Adriana Jerónimo noted the deep cultural and economic ties between the two countries, which further highlight the importance of this collaboration.

Despite this major development, XRP’s price has shown limited growth over the past day. While it initially saw a 5% increase, it experienced a slight decline afterward. At the time of writing, XRP trades at $2.50291.

Ripple USD Stablecoin Gains Momentum

Meanwhile, Ripple continues to push its Ripple USD stablecoin (RLUSD) into the market. According to data from the Ripple Stablecoin Tracker on X, Ripple minted two large batches of RLUSD—425,000 and 625,000—within the past 14 hours. Over the weekend, Ripple issued a significantly larger amount of 9.1 million RLUSD within just 12 hours.

These recent stablecoin issuances followed RLUSD’s listing on two major platforms: Revolut, an online banking app, and Zero Hash, a crypto infrastructure provider. Ripple’s aggressive rollout of RLUSD demonstrates its focus on integrating stablecoins into mainstream platforms.