Ripple Expands Digital Asset Business in Brazil and Plans to Apply for VASP License

SmartContractAuditor · 2026-03-17T15:07:05+00:00

Ripple announced its expansion of digital asset services in Brazil and plans to apply for a virtual asset service provider license to comply with local cryptocurrency regulations. Meanwhile, multiple Brazilian institutions have connected to the Ripple network to conduct USD transfers, forex settlements, and tokenized asset issuance businesses.

SmartContractAuditor

2026-03-17 15:07:05

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Odaily Planet Daily reports that Ripple has 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 settlement of fund flows between Brazil and the United States using stablecoins. Additionally, partners like CRX and Justoken are utilizing Ripple’s custody products to issue tokenized assets, covering real-world assets such as commodities. (CoinDesk)

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