Ripple and Brazilian Financial Braza Group has announced the launch of a new Stablecoin on Ledger XRP (XRPL). Stablecoin, called BBRL, is linked to Brazilian Real and is designed to provide safe and cost -effective solutions for both individuals and companies.
Ripple expands in Brazil
Braza Group has been established more than 15 years ago, and it has risen steadily in the ranks in the Brazilian banking scene, which is currently sixth in the market operations between the banks that the Central Bank of Brazil (Ben) (Ben). In the official press release By Ripple, Braza Group confirmed that BBRL will harness the speed, security and expansion of XRPL to simplify digital transactions.
“We are committed to presenting Stablecoin not only meets, but also exceeds the highest standards of security and compliance,” said Marcelo Sakomori, CEO of the Braza Group. “With BBRL, the Brazilians and national companies are gaining new alternatives to protecting against fluctuations and simplifying their operations, which contributes to a more comprehensive and efficient financial environmental system.”
According to the Braza Group, Stablecoin will be fully guaranteed by Braza Bank. Ripple stressed the strategic importance of bringing Stablecoin like BBRL to Blockchain. “The launch of Stablecoin like BBRL on the Professor XRP book creates great opportunities for the Brazilian market with the basis for a wider adoption throughout South America and beyond,” said Marcus Ingang, Senior Vice President at Ripplex. “This stablecoins brings greater efficiency of border payments, expand access to reliable digital assets, and enable companies to explore new financial use.”
In addition to the launch of Stablecoin, Braza Group is also involved in Drex- a Blockchain initiative by the Central Bank of Brazil (BC). The program, which is still in the second test stage, gives flexibility to propose innovative cases of use that may constitute the future of the digital currency environment in Brazil.
“Our suggestion includes one participation in Blockchain and other partners,” Sakomori said, referring to the Braza Group plans for Drex. “We suggested four cases of use, such as the general Blockchain exploration, bond symbol, DREX asset nursery, and exchange between the Central Bank’s digital currencies (CBDCS). Although nothing has been completed yet, we are optimistic about achieving these goals in the near future .
BBRL is scheduled to run in the first quarter of 2025. Initially, institutional customers will be able to reach Ripple Stablecoin, followed by a broader launch for retail customers through Braza on App. Sacomori emphasized that the main task of Stablecoin is to enhance transparency, stability and liquidity through digital markets:
“This Stablecoin not only allows international transparent transactions, stable investments and commercial operations but also enhances market efficiency. Our goal is to create a network that provides high liquidity for these assets.”
We look forward to the year 2025 and beyond, Sakomori expects great organizational steps in the encryption sector in Brazil, including guidelines clearer of the asset custody by financial institutions. The ambitious goal of the company also participated in the company: “By the end of next year, we expect BBRL to get about 30 % of the market in Brazil, thanks to its integration, but also to create new global settlement paths for BBRL.”
In the coming years, Braza Group aims to unify its position as the most prominent Brazil Bank, which focuses on encryption, with a special focus on enabling companies and exchanges to take advantage of Stablecoins. Sakomori highlighted the increasing demand and expected that Stablecoins will become indispensable to exchange the global currency:
“Within five years, we believe that there will be no currency exchange in the world without stablecoins. We are in a position that allows us to sell Stablecoins in the institutional market, and we are appropriate to the Brazilian companies with the purchase of demands. Over the year, we got a large share of this market, which makes us A reference for the sector today.
It is worth noting that the Securities and Stock Exchange Committee in Brazil (CVM) agreed to the first spot in the world XRP ETF on Wednesday, making it the first country to do so. Managed by Hashdex and Genial Investmentos, ETF was first assigned on the B3 Stock Exchange in Brazil.
At the time of the press, XRP was traded at $ 2.70.
Distinctive image created with Dall.e, Chart from TradingView.com
