Ripple has announced an expansion of its operations in Brazil, increasing its focus on institutional use of digital assets.
The move adds new product capabilities and a wider customer base, enabling the company to offer services across cross-border payments, custody, prime brokerage, and treasury management.
The company also plans to apply for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil, in line with the country’s developing regulatory framework.
“Latin America has always been a priority market for Ripple, not just because of the scale of the opportunity, but because Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world,”
said Monica Long, President at Ripple.
“We’ve spent more than a decade building the trust, licensing, and technology required to operate in regulated markets. Now, with our expanded platform, we can meet institutions across the region with everything they need to compete in the modern financial system.”
Ripple Payments, its cross-border payments solution, has processed over US$100 billion globally and operates in more than 60 markets.
In Brazil, financial institutions and fintechs use it to manage liquidity and execute international transfers across fiat and stablecoins.
Clients include Banco Genial, Braza Bank, and Nomad, alongside firms such as Azify, Attrus, and Frente Corretora, which use Ripple’s infrastructure for payments, settlement, and currency exchange.
Ripple is also introducing its custody solution in Brazil to support regulated institutions seeking secure digital asset storage, while several local exchanges and platforms have listed its RLUSD stablecoin, which now exceeds US$1.5 billion in market capitalisation.
Featured image credit: Edited by Fintech News Switzerland, based on image by pranavkr via Freepik
