Ripple Launches New Brazilian Real-Pegged Stablecoin on XRPL

Ripple has teamed up with Brazil’s Braza Group to introduce a new stablecoin, BBRL, on the XRP Ledger.

Pegged to the Brazilian Real, the asset aims to enhance digital transactions for both individuals and businesses by leveraging XRPL’s speed and efficiency.

Braza Group, a key player in Brazil’s banking sector, highlighted BBRL’s role in improving financial accessibility. CEO Marcelo Sacomori emphasized the project’s commitment to security and compliance, positioning the stablecoin as a tool for reducing volatility and streamlining operations. Backed by Braza Bank, BBRL is expected to expand cross-border payment efficiency and unlock new financial opportunities, according to Ripple’s Markus Infanger.

Beyond stablecoins, Braza Group is also engaging in Brazil’s DREX project, an initiative led by the country’s central bank to explore blockchain applications. The company has proposed multiple use cases, including CBDC exchanges and asset tokenization, as part of its broader push toward digital finance.

BBRL is set for a phased rollout in early 2025, starting with institutional clients before reaching retail users via the Braza On app. Sacomori envisions the stablecoin strengthening market liquidity while paving the way for new global settlement mechanisms. By the end of next year, Braza Group aims to secure a 30% market share in Brazil’s stablecoin sector, anticipating stablecoins’ growing importance in international finance.

Meanwhile, Brazil has become the first country to approve an XRP spot ETF. Managed by Hashdex and Genial Investimentos, the fund will be listed on the country’s B3 stock exchange, signaling increased institutional interest in digital assets.