Ripple has announced a major expansion in Brazil, including plans to apply for a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil (BCB).
This comes as the company moves to deepen its presence worldwide.
Ripple’s Brazil Push Goes Beyond Payments
The VASP license application aligns with Brazil’s updated virtual asset regulatory framework. Ripple President Monica Long said the company has spent more than a decade building the trust and technology required 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,” said Long.
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Ripple Payments has already processed over $100 billion globally and operates across 60+ markets. In Brazil, major institutions are actively using the platform.
This includes the Braza Bank, which selected Ripple to handle USD payments and also issued its BRL-pegged stablecoin on the XRP Ledger (XRPL).
Nomad, serving over 3 million users, uses Ripple Payments and its liquidity network for treasury flows between Brazil and the United States. Moreover, Banco Genial is expanding to include RLUSD in its crypto flows.
“Powered by new product capabilities and accelerating customer adoption, Ripple is now the only solution in the region capable of serving institutions across the full spectrum of financial needs — from cross-border payments and digital asset custody to prime brokerage and treasury management,” the announcement read.
Alongside its payments expansion, Ripple is bringing its custody product to Brazil. The firm noted that Ripple Custody offers bank-grade security with real-time compliance controls and integrations with Chainalysis and Elliptic for transaction screening.
Ripple also highlighted that its stablecoin is gaining significant traction across Latin America. In Brazil, Mercado Bitcoin, Foxbit, Braza Bank, Banco Genial, and Attrus are among the first to list and support RLUSD.
Brazil is not the only market where the company is pursuing regulatory approvals. Ripple is also seeking an Australian Financial Services Licence (AFSL) as part of its wider global expansion.
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