Ripple has announced plans to expand operations in Brazil, South America’s largest economy, with the aim of improving digital asset services in the country and obtaining a key license from Brazilian regulators.
The company revealed that it is currently the only provider in the region capable of meeting a comprehensive range of financial needs, including cross-border payments, digital asset custody, prime brokerage and treasury management services.
Ripple is preparing to launch care services
As part of its development strategy, Ripple intends to apply for a virtual asset service provider (VASP) license with the Central Bank of Brazil (BCB), in line with the newly created national regulatory framework for virtual assets.
“Latin America has always been a priority market for Ripple – not only because of the size of the opportunity, but also because Brazil has created one of the most advanced and forward-looking financial ecosystems in the world” – he stated Monica Long, CEO of Ripple.
She emphasized that Ripple has spent years building the trust, licensing and technology infrastructure necessary to thrive on regulated markets, and with the expansion of its platform, the company is now ready to serve the needs of institutions across the region.
Ripple has also demonstrated significant collaboration with major institutions, leveraging its technology to solve real-world liquidity and payments challenges. Notable partners include Brazil’s Banco Genial, Nomad and Braza Bank.
Additionally, Ripple Custody will launch in Brazil, offering bank-grade security, real-time compliance features and elastic deployment options for regulated institutions.
Founded following the acquisition of Metaco in 2023, Ripple Custody provides institutions with the infrastructure required to store digital assets and facilitates payments, trade and tokenization workflows.
The service is designed to support a wide range of hardware security module (HSM) providers and integrates with Chainalytic and Elliptic for real-time transaction monitoring as well as enabling institutional staking on Proof-of-Stake (PoS) networks.
Tokenization initiatives and RLUSD expansion in Brazil
Tuesday’s announcement also said Brazil-based CRX specializes in tokenization real world resources (RWA) uses XRP Ledger (XRPL) and Ripple Custody to issue and manage tokenized RWAs at scale, with approximately $100 million settled on the blockchain.
Similarly, Justoken, which has already tokenized over $1.7 billion in assets on XRPL, plans to leverage the company’s Custody tools to create institutional-grade infrastructure for tokenizing natural resources in Latin America.
Business RLUSD coin is reportedly gaining significant momentum in Latin America, where institutions are looking for trusted, regulated digital dollar options.
Ripple revealed that RLUSD is already being implemented by some of the largest exchanges and fintech companies in the country, including Mercado Bitcoin, Foxbit, Ripio and Attrus.
At the time of writing, Ripple’s related cryptocurrency, XRP, was trading at $1.52, up 7% in the last week and 1% in the last 24 hours.
Featured image from OpenArt, chart from TradingView.com
Editorial process for bitcoinist is focused on providing thoroughly researched, correct and unbiased content. We adhere to strict sourcing standards, and each page is carefully reviewed by our team of top technology experts and experienced editors. This process ensures the integrity, relevance and value of our content to our readers.
