Ripple Files for Brazil Central Bank License With $100B Payments Network

Ripple’s Brazil expansion is starting to look less like a regional push and more like a full systems rollout. Ripple has applied for a VASP license with Brazil’s Central Bank while also launching its payments and digital asset services across local institutions. Some of these integrations are already live with banks and fintechs using Ripple’s network for cross-border flows and settlement. The licensing, if approved, would bring those operations under Brazil’s formal crypto framework.

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Ripple Brings Custody, Brokerage, and RLUSD to Brazilian Banks and Fintechs

Ripple crypto services in Brazil are already being used by several firms. Banco Genial is processing same-day US dollar transfers through Ripple’s payments network. Braza Bank is using it for foreign exchange flows and has issued a real-backed stablecoin on the XRP Ledger. Fintech firm Nomad is also using the network to move funds between Brazil and the US, settling transactions in stablecoins.

Along with payments, Ripple has rolled out custody and brokerage services. This is aimed at institutions that want to hold and trade digital assets within the same system. The ultimate goal is a single platform that combines payments, liquidity, and asset storage. Monica Long, President at Ripple, said,

“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.”

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The company says its global payments network has carried out more than $100 billion in transactions. This is across 60 markets. Ripple’s RLUSD stablecoin launch in Brazil is also picking up. The market cap of this project sits at $1.5 billion.

Ripple’s latest move in Brazil comes as XRP gains a clear regulatory footing in the US. The asset was recently classified as a digital commodity. This shift could reduce uncertainty for companies building around the XRP Ledger internationally.

In addition, Brazil isn’t the only region where Ripple is expanding its regulated footprint. In Australia, the firm recently moved to secure an Australian Financial Services License (AFSL). Taking all this together, the firm intends to build within regulatory frameworks and scale where infrastructure already supports it.

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