Ripple expands its digital asset business in Brazil and plans to apply for a VASP license
Odaily reported 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, aiming to be included in the country's cryptocurrency regulatory framework.
Currently, several Brazilian institutions have integrated with 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 real-backed stablecoin on the XRP Ledger; fintech company Nomad utilizes the network to settle fund flows between Brazil and the United States using stablecoins. Additionally, partners such as CRX and Justoken are leveraging Ripple's custody products to issue tokenized assets, covering commodities and other real-world assets. (CoinDesk)
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