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  • Brad Garlinghouse, the CEO of Ripple, recently met with the top executives at Brazil’s central bank.
  • The meeting was intended to “address institutional matters.”
  • Last year, Ripple opened an office in Brazil. Since then, it has made many efforts to gain a foothold in the country.

Brad Garlinghouse, the CEO of Ripple, recently met with the top officers at Brazil’s central bank through a video conference call to “address institutional matters.” Apart from Garlinghouse, other Ripple executives who attended the virtual meeting included the global operations senior vice president Eric Van Miltenburg and managing director of Latin America, Luiz Antonio Sacco.

Last year, Ripple opened an office in Brazil. Since then, the company has made many efforts to gain a foothold in the country and has advanced to make cryptocurrencies a fundamental 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 2019, Ripple partnered with big banks in Brazil, such as Santander Brasil, Bradesco and Redimento. It also held discussions with banks and regulators about using XRP for remittances.