Ripple is stepping up its Brazil play — expanding crypto and payments services while preparing to apply for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil (BCB) under the country’s new regulatory framework.
The payments-focused blockchain firm said it is launching a bundled suite for banks and fintechs that combines cross-border payments, digital-asset custody, brokerage and treasury tools. The integrated offering is aimed at institutions that want to move money across borders, hold crypto securely and manage liquidity from a single platform.
“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,” Monica Long, Ripple’s president, said in a statement.
Ripple noted several Brazilian customers are already live on its network. Banco Genial uses Ripple for same-day U.S. dollar transfers; Braza Bank leverages the system for foreign-exchange flows and has issued a real-backed stablecoin on the XRP Ledger; and fintech Nomad and others use Ripple to move funds between Brazil and the U.S., settling in stablecoins.
The company is also pushing its custody product into Brazil to serve institutions that require secure storage linked to trading and tokenization workflows. Partners including CRX and Justoken are using Ripple’s custody and issuance tooling to create tokenized assets, spanning real-world assets such as commodities.
This expansion in Brazil comes as Ripple accelerates broader growth through acquisitions and product builds. Recent deals include the $1.25 billion acquisition of prime broker Hidden Road and the $1 billion purchase of corporate treasury software provider GTreasury. Ripple also issues a U.S. dollar stablecoin, RLUSD, which it says has roughly $1.5 billion outstanding via its custody arm.
Ripple reported it has processed over $100 billion in transactions across its payments ecosystem. The firm has also launched a share buyback program and says that recent moves imply a company valuation of about $50 billion.
By seeking formal VASP licensing and packaging payments, custody and treasury services for local institutions, Ripple is betting Brazil will be a key hub for its Latin American push.
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