Ripple and Brazilian financial institution Braza Group announced the launch of BBRL, a stablecoin pegged to the Brazilian Real, on the XRP Ledger (XRPL). The stablecoin, set to launch in Q1 2025, aims to provide secure and cost-effective solutions for individuals and businesses. Braza Group, ranked sixth in Brazil's interbank market operations, stated that BBRL will leverage XRPL's speed and security to streamline digital transactions. Initially available to institutional clients, BBRL will later roll out to retail customers via the Braza On app. Braza Group anticipates BBRL capturing 30% of the Brazilian market by the end of 2025. Furthermore, Brazil's CVM approved the world's first spot XRP ETF on Wednesday, managed by Hashdex and Genial Investimentos, to debut on Brazil's B3 stock exchange.
Ripple and Braza Group to Launch Brazilian Real-Pegged Stablecoin BBRL on XRP Ledger in Q1 2025
Edited by: Elena Weismann
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