Ripple is opening an office in Brazil, with Latin America expansion plans in mind, Cointelegraph writes. The company hasn’t made an official announcement yet; it’s planning to make a statement during a fintech and banking conference CIAB Febraban in São Paulo in the coming days.
Luiz Antonio Sacco will be the head of the new office, Cointelegraph writes. Before joining Ripple in March, he was the CEO of the Brazilian subsidiary of The Warranty Group. Sacco’s plans for Ripple include attracting more clients to RippleNet, both in Brazil and Latin America. As of now, the payment solution has been implemented by three Brazil-based companies—Santander Brazil, BeeTech Global and Banco Rendimento.