Ripple CEO Brad Garlinghouse In Talks With Central Bank Of Brazil

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Recently, Brad Garlinghouse along with some senior staff of Ripple met with the Central Bank of Brazil.
  • The virtual meeting took place on May 29, 2020, and lasted an hour.
  • Moreover, there was no disclosure of any particular information apart from the purpose of the meeting, i.e. to discuss the institution matters.

Recently, Brad Garlinghouse along with some senior staff of Ripple met with the Central Bank of Brazil. It is well known that Ripple is an active participant in the blockchain and digital asset ecosystem.

The meeting aimed to discuss institution matters

The virtual meeting took place on May 29, 2020, and lasted an hour. Further, the members who participated from Ripple include Brad Garlinghouse (CEO) and Eric van Miltenburg (Senior VP, Global Operations). Also, Luiz Antonio Sacco (VP of Global Operations and General Director for Latin America), and Ben Lawsky (Member of the Board of Directors) Ben Lawsky (Member of the Board of Directors) were a part too.

 Source: i1.wp.com/www.xrparcade.com

Moreover, there was no disclosure of any particular information apart from the purpose of the meeting, i.e. to discuss the institution matters. Even the press was also not allowed.

On the other side, President Roberto Campos Neto of the Central Bank of Brazil attended the meeting. 

Ripple Looking Forward To Improve Customer-Base In Brazil

Besides this, Ripple launched an office in Brazil a year ago under the guidance of Luiz Antonio Sacco. The main purpose of the launch was to develop customer-base in Brazil and all over South America such as Peru, Chile, and Argentina.

As per Sacco, in December 2019, Brazil represented around 30% of the total volume remittance transaction by using RippleNet. The expectation is that the leading blockchain firm will announce some other partnerships in the coming months. This will majorly include financial institutions like digital banks.

Additionally, Ripple associated with some prominent banks in Brazil last year. It includes Santander Brasil, Redimento, and Bradesco that utilize the company’s payment messaging system.

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