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September 23, 2020
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Ripple talks with the central bank of Brazil Blocksats

Brad Garlinghouse, CEO of Ripple, spoke to top representatives of the Central Bank of Brazil. In what case

Head of Ripple debates with central bankers

According to information from the authorities of Banco Central do Brasil, the central bank of Brazil, on 30 May from 17.00 to 18.00, an institution teleconference took place. financiers “Took care of institutional matters.” The virtual event was attended by Garlinghouse, but also other Ripple directors, including senior vice president of global operations Eric van Miltenburg and managing director of Latin America, Luiz Antonio Sacco.

On the bank’s side there were: the President of the bank Roberto Campos Neto, director of regulation Otavio Ribeiro Damaso and director of organization and restructuring of the financial system João Manoel Pinho de Mello.

But what about the meeting?

“According to the head of the company in Brazil, at the moment the focus has been on talks with banks and regulators about the possibilities of coexistence of cryptocurrencies with traditional operations to improve transactions in the global financial system”

– we find out from media.

Lobbying for cryptocurrencies

It is worth recalling that Ripple is a company that not only stands behind the XRP token, but also lobbies among those in power in cryptocurrency issues.

The company opened an office in Brazil last year. Since then, the San Francisco startup has made considerable efforts to gain a foothold in this country and lobby for cryptocurrencies to become an integral part of the financial system.

By December 2019, Ripple managed to join forces with large banks in Brazil, such as Santander Brasil, Bradesco and Redimento, and began talks with other banks and regulators about the use of XRP tokens in the money transfer market.

Ripple also lobbies on cryptocurrency in the US. According to the Center for Responsive Policy Ripple spent $ 170,000 on lobbying. It is worth adding that this amount applies only to the first three quarters of 2019. An independent group monitoring lobbying in the US has reached data from the Senate Office of Public Registers. It turns out that Ripple’s activities were focused not so much on Congress but on the White House. The company’s colleagues managed to reach the office of President Donald Trump.

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