Ripple announced a broad institutional push into Brazil on March 17, filing plans for a Virtual Asset Service Provider license with the Central Bank of Brazil. The move covers cross-border payments, digital asset custody, stablecoin infrastructure, prime brokerage, and treasury management under one provider.
Ripple Payments has now processed over $100 billion in volume globally, operating across 60-plus markets. Brazil sits at the center of this push, with several major local institutions already live on the platform.
Payments Network Grows Across Major Brazilian Firms
Banco Genial is using Ripple for same-day USD disbursements, with plans to fold RLUSD into its crypto settlement flows. Braza Bank, one of Brazil’s largest FX institutions by volume, has adopted Ripple Payments for USD transactions and issued its own BRL-pegged stablecoin, BBRL, directly on the XRP Ledger.
Nomad, the Brazilian fintech with over 3 million users, runs treasury flows between Brazil and the US through Ripple’s liquidity network. Azify uses the platform to swap stablecoins into local currencies including USD, EUR, CNY, and SGD. ATTRUS, a LATAM payments firm, runs OTC crypto settlement through Ripple with RLUSD woven into its broader operations.
As Ripple posted on X, @Ripple confirmed the expansion is live with Banco Genial, Braza Bank, Nomad, Azify, and more, describing it as “one provider, the complete financial stack.”
RLUSD Crosses $1.5 Billion in Market Cap
Ripple USD has passed a $1.5 billion market cap, and Brazilian adoption is picking up fast. Mercado Bitcoin, Foxbit, Ripio, Braza Bank, Banco Genial, and Attrus are among the first to list and support RLUSD in the region. The stablecoin carries dual regulatory oversight from the New York Department of Financial Services and the Office of the Comptroller of the Currency.
Ripple President Monica Long addressed the expansion in a formal statement, noting the company has spent over a decade building the trust, licensing, and technology to operate in regulated markets.
“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.”
Custody operations have also landed in Brazil. CRX, a Ripple partner on the XRP Ledger, has settled nearly $100 million in tokenized assets on-chain through Ripple Custody. Justoken brings over $1.7 billion in already-tokenized XRPL assets and will use Ripple Custody to build real-world asset infrastructure for natural resources across Latin America.
Prime Brokerage and Treasury Round Out the Stack
Ripple Prime, built from Ripple’s acquisition of Hidden Road, clears over $3 trillion annually across FX, digital assets, derivatives, and fixed income. Brazilian institutions can now access that infrastructure alongside Ripple Treasury, which handles liquidity management, 24/7 cross-border payment execution, and real-time risk controls. The VASP license application brings the compliance layer, putting Ripple in line with Brazil’s updated virtual asset regulatory framework under the Central Bank.
