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San Francisco-based blockchain company Ripple recently announced a new tie-up with Fenasbac in order to promote fintech opportunities in Brazil with the help of the Next accelerator program.&nbsp;
Notably, Ripple picked Brazil as its first company for targeted investment. The company has pointed to the country's crypto-friendly regulatory environment as well as a strong community of developers as the main reason behind such a decision.&nbsp;
Next is the largest startup acceleration program in the financial sector in Brazil.&nbsp;
Some of the startups that are sponsored by Next include AmFi, LoopiPay, and Liber.&nbsp;&nbsp;
Ripple has already identified two fintech startups that it is going to support. Naturally, the company targets those companies that are seeking to utilize the XRP Ledger.&nbsp;
Ripple has long had a strong presence in Brazil. As&nbsp;<a href="https://u.today/ripple-sets-up-branch-in-brazil-plans-to-continue-with-its-latin-america-rollout">reported by U.Today</a>, it set up a separate branch in the country that served as a springboard for its expansion in Latin America in 2019.
In 2022, the company also <a href="https://u.today/ripple-launches-new-odl-corridor-in-key-market-via-new-partnership">announced</a> the launch of a new On-Demand Liquidity corridor, which was introduced in partnership with Travalex. &nbsp; &nbsp;
In April, Ripple president Monica Long&nbsp;<a href="https://u.today/ripple-president-spotlights-crypto-impact-in-latin-america">spoke</a> about how crypto has affected the financial landscape in Latin America.&nbsp;&nbsp;&nbsp;
Back in May, Ripple also announced a $100,000 donation to the victims of the Brazil floods.&nbsp;
<h2 id="a-new-regulatory-framework">A new regulatory framework&nbsp;</h2>
In May, Brazil's central bank announced that it would be able to introduce a comprehensive regulatory framework for digital assets later in 2024.&nbsp;
The central bank was granted authority over crypto regulation back in 2022. &nbsp;Its public consultation on cryptocurrency regulation wrapped up in January. &nbsp;&nbsp;

Ripple Betting Big on Brazil

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