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Ripple Expands Brazil Digital Asset Services, Plans VASP License Application

Ripple Expands Brazil Digital Asset Services, Plans VASP License Application

According to Ripple, it is broadening its Brazil offering for banks and fintechs and plans to seek a VASP license from the Central Bank of Brazil under the country’s crypto framework.

XRP
RLUSD

Fact Check
The statement is confirmed by a detailed report from CoinDesk (Ripple looks to expand crypto and payment services in Brazil), which quotes Ripple President Monica Long and specifies the company's intent to apply for a VASP license under Brazil's crypto framework. The report also lists specific Brazilian partners like Banco Genial and Braza Bank already using Ripple's services.
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Summary

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 as the country implements its crypto regulatory framework. The company is rolling out an integrated platform for banks and fintechs that combines cross-border payments, digital asset custody, brokerage, and treasury tools to support international transfers, crypto holdings, and liquidity management in one system. Ripple said several Brazilian firms already use its services, including Banco Genial for same-day U.S. dollar transfers, Braza Bank for foreign exchange flows and issuance of a real-backed stablecoin on the XRP Ledger, and fintech Nomad for moving funds between Brazil and the U.S. with stablecoin settlement. The company also said custody partners such as CRX and Justoken are using its infrastructure to issue tokenized assets, including commodities. Ripple added that it has processed more than $100 billion in transactions across its payments ecosystem as it continues a broader expansion that has included the $1.25 billion acquisition of Hidden Road, the $1 billion purchase of GTreasury, and the launch of its U.S. dollar stablecoin RLUSD.

Terms & Concepts
  • VASP: A virtual asset service provider, a regulated entity that offers services such as crypto transfers, exchange, custody, or related digital asset activities.
  • XRP Ledger: A blockchain network closely associated with Ripple and XRP that is used for payments, token issuance, and other digital asset applications.
  • Stablecoin: A digital asset designed to maintain a stable value, commonly by being linked to a fiat currency such as the U.S. dollar.