Ripple chief executive Brad Garlinghouse just met with the top brass at Brazil’s central bank.
According to the Agenda of Authorities of Banco Central do Brasil, the one-hour video conference call was scheduled on May 30th from 5:00 pm to 6:00 pm to “address institutional matters.” In addition to Garlinghouse, other Ripple executives attended the closed-door virtual meeting, including the global operations senior vice president Eric van Miltenburg and managing director of Latin America, Luiz Antonio Sacco.
President Roberto Campos Neto, regulation director Otavio Ribeiro Damaso, and financial system organization and resolution director João Manoel Pinho de Mello represented Banco Central do Brasil.
Ripple opened an office in Brazil last year. Since that time, the San Francisco startup has made significant efforts to gain a foothold in the country and has lobbied for to make cryptocurrencies an integral part of the financial system.
“According to the head of the company in Brazil, the focus at the moment is to discuss with banks and regulators possibilities of coexistence of cryptocurrencies with traditional operations to make transactions in the global financial system more efficient.”
By December of 2019, Ripple teamed up with big banks in Brazil such as Santander Brasil, Bradesco and Redimento, and also began talks with banks and regulators about using XRP for remittances.
Ripple teamed up with big banks in Brazil last year, including Santander Brasil, Bradesco and Redimento which use the company’s payment messaging system.