Ripple, a provider of blockchain-based enterprise solutions, has expanded its presence in Brazil, as part of growing institutional digital asset adoption in the country.
The firm says it is now the first solution in the region to be capable of providing institutions with the “full spectrum of financial needs”, including cross-border payments, digital asset custody, prime brokerage, and treasury management.
In accordance with Brazil’s digital asset regulatory framework, Ripple intends to apply for a Virtual Asset Service Provider (VASP) licence, which the firm says is indicative of its commitment to long-term growth in the region.
According to the firm, Brazilian fintechs and financial institutions are already using its infrastructure for cross-border payments, treasury flows, and stablecoin settlement.
The expansion will broaden the firm's offering beyond payments to include Ripple Prime, Ripple Treasury, Ripple Custody, and Ripple USD (RLUSD), the firm’s stablecoin.
Speaking on the initiative, Monica Long, president at Ripple, says: "We've spent more than a decade building the trust, licensing, and technology required to operate in regulated markets.
“Now, with our expanded platform, we can meet institutions across the region with everything they need to compete in the modern financial system."
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