Ripple said it is expanding digital asset services in Brazil and plans to apply for a Virtual Asset Service Provider license with the Central Bank of Brazil. It is rolling out an integrated platform for banks and fintechs that bundles cross-border payments, crypto custody, brokerage and treasury tools. The Brazil push follows Ripple’s rapid expansion through acquisitions and the rollout of a U.S. dollar stablecoin RLUSD.
Ripple’s Brazil push targets banks and fintechs that want to move money across borders, hold crypto and manage liquidity in one system. Monica Long, Ripple’s president, said Latin America is a priority market and that Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world. Several Brazilian firms already use Ripple’s network and services, including Banco Genial for same-day USD transfers and Braza Bank for FX flows with a real-backed stablecoin on the XRP Ledger.
Fintech Nomad and others use the network to move funds between Brazil and the U.S. and settle in stablecoins. Ripple is also pushing its custody product for institutions that need secure storage tied to trading and tokenization, with partners such as CRX and Justoken issuing tokenized assets, including real-world assets like commodities. The Brazil push accompanies Ripple’s ongoing acquisitions, including the $1.25 billion purchase of prime brokerage Hidden Road and the $1 billion GTreasury deal, while RLUSD is issued via its custody arm. The company says it has processed over 100 billion in transactions across its payments ecosystem and has recently launched a share buyback program valuing the firm at about $50 billion.
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