Ripple doubles down on Brazil, rolling out full payments + crypto stack and preparing for VASP license
Ripple — the payments-focused blockchain firm known for its ties to the XRP Ledger — is expanding its digital-asset footprint in Brazil and preparing to apply for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil. The move would bring Ripple’s operations squarely under Brazil’s new crypto regulatory framework.
What Ripple is launching
- A bundled platform for banks and fintechs that combines cross-border payments, digital-asset custody, brokerage and treasury tools — enabling institutions to move money across borders, hold crypto and manage liquidity in one system.
- A push to offer regulated custody services for institutions that need secure storage integrated with trading and tokenization workflows. Ripple said partners such as CRX and Justoken are already using its custody setup to issue tokenized assets, including real-world assets like commodities.
Why Brazil matters
“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. The company points to an existing local customer base — including Banco Genial (same-day U.S. dollar transfers), Braza Bank (FX flows and a real-backed stablecoin issued on the XRP Ledger), and fintech Nomad (cross-border transfers between Brazil and the U.S., often settled in stablecoins) — as evidence of traction.
Regulatory step: VASP application
Ripple confirmed it plans to apply for a VASP license with Brazil’s central bank, aligning with the country’s emerging crypto rules. If approved, the license would allow Ripple to operate under formal oversight and could make its bundled services more attractive to regulated financial institutions in Brazil.
Broader expansion strategy
Ripple’s Brazil push comes as part of a wider growth strategy that has included major acquisitions and new product rollouts. Recent moves include the $1.25 billion acquisition of prime broker Hidden Road and the $1 billion purchase of corporate treasury platform GTreasury. The company also issues a U.S. dollar stablecoin, RLUSD, via its custody arm. Ripple says its payments ecosystem has processed more than $100 billion in transactions and that a recent share buyback program implied a roughly $50 billion firm valuation.
Bottom line
By combining payments rails, custody, brokerage and treasury capabilities and seeking formal VASP authorization, Ripple is positioning itself to be a one-stop provider for Brazilian banks and fintechs looking to safely integrate crypto into cross-border payments and liquidity operations. If Brazil’s regulators sign off, Ripple’s push could accelerate institutional crypto adoption across one of Latin America’s largest markets.
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