- Braza Group will use the XRP Ledger to launch a new stablecoin, BBRL
- Ripple’s expanding partnerships in South America and Japan highlight its investment in real-world utility
- Significant financial institutions globally are adopting the XRP Ledger for various applications
A couple of days ago we reported how Ripple was expanding into the Luso-Brazilian corridor after a new partnership with Portugal’s leading crypto exchange provider, Unicâmbio. Today, the firm is yet again consolidating its presence in South America.
“Braza Group”, a private payment firm based in Brazil, will be using the XRP Ledger (XRPL) to launch a new stablecoin (BBRL) based on Brazil’s national currency, the Real. The new stablecoin is set to utilize the Ledger to foster business developments in the nation, as well as provide a quick and responsive payment platform with the XRPL.
Braza Group CEO Marcelo Sacomori celebrated the new partnership in a press release. According to him, the BBRL will allow Brazilian companies to meet their purchase demands in the institutional market.
The financial group has established itself as a significant player in this sector. The BBRL is already available for Braza Bank clients and is set to become available for Brazilians in the next 3 months.
Ripple Continues To Show Utility to The Market
The last couple of months have undeniably been good for XRP holders. However, one overlooked aspect of the project is the fact that Ripple may be the firm that’s been investing the most in real-world utility.
In January, the company announced it was set to partner with the vast majority of Japanese banks—putting the XRPL to tokenize and facilitate banking activities in Japan. So far, Ripple Labs partners with several countries all across the globe.
Some of the most influential firms from some of the largest companies in the world are already using the Ledger. The list includes giants like Santander Bank, DZ Bank, RAKBANK, SBI Holdings, Kotak Mahindra Bank, and the IndusInd Bank.
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