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\n\t\t\t\t\t\t\t\t\tThe company’s expansion in Brazil comes after it made big moves in Australia, the US, and Canada. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ripple announced earlier today that it has significantly enhanced its presence in Brazil by incorporating some of its key features in the local market, including cross-border payments and digital asset custody.<\/p>\n
The company\u2019s President highlighted the importance of the Latin American market and praised Brazil for its rapidly developing financial ecosystem.<\/p>\n
The statement published on March 17 reads that Ripple has now become the \u201conly solution in the region capable of serving institutions across the full spectrum of financial needs \u2013 from cross-border payments and digital asset custody to prime brokerage and treasury management.\u201d<\/p>\n
The firm has also applied for a Virtual Asset Service Provider (VASP) license with the country\u2019s central bank. The move comes after Brazil introduced its cryptocurrency regulatory framework and aims to reinforce Ripple\u2019s \u201ccompliance-first approach\u201d that has guided its global operations for over a decade.<\/p>\n
After outlining the significance of the Latin American market, Ripple President Monica Long added<\/a> that \u201cBrazil has built one of the most advanced and forward-thinking financial ecosystems in the world.\u201d<\/p>\n \u201cWe\u2019ve spent more than a decade building the trust, licensing, and technology required to operate in regulated markets. Now, with our expanded platform, we can meet institutions across the region with everything they need to compete in the modern financial system,\u201d Long concluded.<\/p>\n<\/blockquote>\n The announcement explained that Ripple Custody will bring \u201cbank-grade security, real-time compliance controls, and flexible deployment options to regulated institutions in the region.\u201d Some of those include CRX and Justoken.<\/p>\n In the meantime, Ripple Payments, the end-to-end solution for moving money across borders with over $100 billion in processed volume globally, works with Banco Genial, Braza Bank, Nomad, Azify, ATTRUS, and Frente Corretora.<\/p>\n The company also said that its enterprise-grade stablecoin, RLUSD, has gained \u201csignificant traction\u201d in the LATAM region, as institutions look for \u201ctrusted, regulated, digital dollar infrastructure.\u201d RLUSD\u2019s market cap has grown past $1.5 billion in less than 18 months after its launch.<\/p>\n The stablecoin has been adopted in Brazil by some of the most prominent exchanges and fintechs, including Mercado Bitcoin, Foxbit, Ripio, Braza Bank, Banco Genial, and others.<\/p>\n Ripple\u2019s big move in Brazil follows similar developments in other regions. It began<\/a> with a major announcement about an Australian financial license application, followed by a partnership focused<\/a> on the North American markets.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
Brazilian Institutions Tapping Ripple Payments<\/h2>\n
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