Ripple said it is expanding its business in Brazil and plans to apply for a Virtual Asset Service Provider, or VASP, license with the Central Bank of Brazil. The company is widening its enterprise payments, stablecoin, and institutional product lineup as Brazil continues to develop its crypto regulatory framework.
Brazil Sits at the Center of Ripple’s Latin America Plan
Ripple president Monica Long said Latin America, and Brazil in particular, remains a priority for the company. She described Brazil as one of the region’s more advanced financial ecosystems, a setting that supports institutional adoption of blockchain-based infrastructure. The expansion is framed around a broader enterprise push rather than a single product launch.
Ripple Payments Gains Ground With Brazilian Institutions
Ripple said more financial institutions and fintech firms in Brazil are using Ripple Payments for cross-border transfers. The network often uses XRP for liquidity and has processed more than $100 billion in volume across more than 60 markets globally. In Brazil, Banco Genial uses Ripple technology for same-day U.S. dollar disbursements. Braza Bank has integrated Ripple Payments for USD transfers and also issued its BRL-pegged stablecoin BBRL on the XRP Ledger.
Nomad, a Brazilian fintech serving more than 3 million users, is also using Ripple’s liquidity network to handle treasury flows between Brazil and the United States. The examples point to a clear use case mix: cross-border transfers, liquidity access, and treasury operations.
RLUSD Extends Its Reach in the Brazilian Market
Ripple also highlighted the growth of RLUSD, its U.S. dollar-backed stablecoin built for enterprise use. The company said RLUSD has passed a $1.5 billion market capitalization and is already being adopted by major crypto exchanges and fintech platforms in Brazil, including Mercado Bitcoin, Foxbit, and Ripio.
Ripple said RLUSD operates under oversight from the New York Department of Financial Services and the Office of the Comptroller of the Currency. That regulatory positioning is central to how Ripple is marketing the stablecoin to institutional clients.
Custody and Treasury Infrastructure Are Part of the Expansion
Beyond payments and stablecoins, Ripple said it is bringing more institutional services to Brazil, including digital asset custody and financial infrastructure for treasury management and trading. Taken together, the move shows Ripple building out a fuller stack for institutions active in both traditional finance and digital assets.
Brazil is taking on a larger role in blockchain-based financial infrastructure across Latin America, based on Ripple’s latest announcement. The company is tying license plans, payment network growth, and RLUSD distribution into the same market push.