Ripple has declared its intention to participate in the forthcoming Next blockchain accelerator program, which is being organized by Fenasbac.
The objective of this initiative is to offer mentorship, investment opportunities, and resources to early-stage fintech companies in Brazil that have the potential for significant growth.
Ripple intends to sponsor two fintech companies that specialize in blockchain technology, with a particular emphasis on XRP Ledger, by participating in the Next blockchain accelerator program.
The resources necessary for these firms to expand and flourish in the crypto economy will be provided by Ripple in partnership with Fenasbac. Ripple and Fenasbac have entered into their second partnership to provide assistance to businesses in Brazil, thereby enabling them to realize their maximum potential.
Ripple and Fenasbac had previously collaborated on projects with Polkadot and the Federal University of Rio de Janeiro (UFRJ). With the backing of the Brazilian central bank, these initiatives sought to investigate the potential of blockchain interoperability solutions for the DREX digital currency.
Silvio Pegado, Ripple’s regional director for the LATAM market, emphasized the primary objective of the partnership: to assist Brazilian entrepreneurs in the development of innovative projects that address real-world financial challenges.
Ripple is purportedly of the opinion that Brazil’s proactive approach to blockchain and crypto is a critical factor in the transformation of financial services in international markets. Ripple’s initiatives are well-suited to the country’s ecosystem, which is conducive to the advancement of technology and the establishment of progressive blockchain policies.
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