Ripple and Brazilian financial heavyweight Braza Group have announced the launch of a new stablecoin on the XRP Ledger (XRPL). The stablecoin, called BBRL, is pegged to the Brazilian Real and is designed to offer secure, cost-effective solutions for both individuals and businesses.
Ripple Expands In Brazil
Founded over 15 years ago, Braza Group has steadily climbed the ranks in the Brazilian banking scene, currently holding the sixth position in the interbank market operations monitored by the Central Bank of Brazil (BACEN). In the official press release by Ripple, Braza Group emphasized that BBRL will harness the speed, security, and scalability of the XRPL to streamline digital transactions.
“We are committed to offering a stablecoin that not only meets but exceeds the highest security and compliance standards,” said Marcelo Sacomori, CEO of Braza Group. “With BBRL, Brazilians and national companies gain new alternatives to protect against volatility and streamline their operations, contributing to a more inclusive and efficient financial ecosystem.”
According to Braza Group, the stablecoin will be fully guaranteed by Braza Bank. Ripple underscored the strategic importance of bringing a stablecoin like BBRL onto its blockchain. “Launching a stablecoin like BBRL on the XRP Ledger creates significant opportunities for the Brazilian market while also laying the groundwork for broader adoption across South America and beyond,” said Markus Infanger, Senior Vice President at RippleX. “These stablecoins bring greater efficiency to cross-border payments, expand access to reliable digital assets, and enable businesses to explore new financial use cases.”
In addition to launching its stablecoin, Braza Group is also participating in DREX—a blockchain-based initiative by the Central Bank of Brazil (BC). The program, still in its second testing phase, gives financial institutions the flexibility to propose innovative use cases that may shape the future of Brazil’s digital currency environment.
“Our proposal involves one blockchain participation and other partners,” said Sacomori, referring to Braza Group’s DREX-related plans. “We suggested four use cases, such as exploring public blockchain, tokenization of debentures, custody of DREX assets, and exchanges between Central Bank Digital Currencies (CBDCs). Although nothing is finalized yet, we are optimistic about achieving these goals in the near future.”
BBRL is slated to go live in the first quarter of 2025. Initially, institutional clients will gain access to the Ripple stablecoin, followed by a wider rollout to retail customers through the Braza On app. Sacomori emphasized that the stablecoin’s primary mission is to enhance transparency, stability, and liquidity across digital markets:
“This stablecoin not only enables transparent international transactions, stable investments, and commercial operations but also promotes market efficiency and security. Our goal is to build a network that provides high liquidity for these assets.”
Looking ahead to 2025 and beyond, Sacomori anticipates substantial regulatory strides in Brazil’s crypto sector, including clearer guidelines for asset custody by financial institutions. He also shared the company’s ambitious goal for BBRL: “By the end of next year, we expect BBRL to capture about 30% of the market in Brazil, thanks not only to its integration but also to creating new global settlement paths for BBRL.”
In the coming years, Braza Group aims to consolidate its position as Brazil’s foremost crypto-centric bank, with a special focus on enabling businesses and exchanges to leverage stablecoins. Sacomori highlighted the growing demand and predicted that stablecoins could become indispensable for global currency exchanges:
“In five years, we believe that there will be no currency exchanges in the world without stablecoins. We are positioned to sell stablecoins in the institutional market, catering to Brazilian companies with purchasing demands. Throughout the year, we have secured a significant share of this market, making us a sector reference today.”
Notably, Brazil’s Securities and Exchange Commission (CVM) has approved the world’s first spot XRP ETF on Wednesday, making it the first country to do so. Managed by Hashdex and Genial Investimentos, the ETF is set to debut on Brazil’s B3 stock exchange.
At press time, XRP traded at $2.70.
