Ripple Announces Expansion of Digital Asset Business in Brazil, Plans to Apply for Virtual Asset Service Provider License

CycleProphet · 2026-03-17T13:16:15+00:00

Ripple plans to expand digital asset services in Brazil and apply for a virtual asset service provider license to be included in the local cryptocurrency regulatory framework. Currently, multiple Brazilian institutions have been connected to its network to conduct business in US dollar transfers, foreign exchange settlement, and tokenized asset issuance.

CycleProphet

2026-03-17 13:16:15

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Deep Tide TechFlow News, on March 17, according to CoinDesk, Ripple announced the expansion of its digital asset services in Brazil and plans to apply for a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil to be included in the country’s cryptocurrency regulatory framework.

Currently, several Brazilian institutions are connected to the Ripple network. Banco Genial processes same-day USD transfers through the network; Braza Bank uses it for foreign exchange settlements and has issued a stablecoin backed by the real on the XRP Ledger; fintech company Nomad leverages the network for settling fund flows between Brazil and the US with stablecoins. Additionally, partners like CRX and Justoken are issuing tokenized assets using Ripple’s custody products, covering real-world assets such as commodities.

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