Ripple has announced plans to expand operations in Brazil, South America’s largest economy, aiming to improve its digital asset services in the country and obtain a key license from Brazilian regulatory authorities.
The company revealed that it is now the only provider in the region capable of addressing a comprehensive range of financial needs, including cross-border payments, digital asset custody, prime brokerage, and treasury management.
Ripple Prepares To Launch Custody ServicesShe emphasized that Ripple has spent years building the trust, licensing, and technological infrastructure necessary to thrive in regulated markets, and with the expansion of its platform, the firm is now equipped to meet the needs of institutions throughout the region.
Ripple has also showcased significant collaborations with major institutions utilizing its technology to address real-world challenges related to liquidity and payments. Notable partners include Brazil’s Banco Genial, Nomad, and Braza Bank.
Additionally, Ripple Custody is set to launch in Brazil, offering bank-grade security, real-time compliance features, and flexible deployment options for regulated institutions.
The service is designed to support a wide array of hardware security module (HSM) providers and integrates with Chainalysis and Elliptic for real-time transaction monitoring, as well as enabling institutional staking across Proof-of-Stake (PoS) networks.
Tokenization Initiatives And RLUSD Expansion In BrazilSimilarly, Justoken, which has already tokenized over $1.7 billion in assets on the XRPL, plans to utilize the firm’s Custody tools to create institutional-grade infrastructure for natural resources tokenization in Latin America.
Ripple disclosed that RLUSD is already being adopted by some of the largest exchanges and fintech companies in the country, including Mercado Bitcoin, Foxbit, Ripio, and Attrus.
At the time of writing, Ripple’s associated cryptocurrency, XRP, was trading at $1.52, up 7% in the last week and 1% in the last 24 hours.
Featured image from OpenArt, chart from TradingView.com
