Braza, a financial technology group, has disclosed that it will release a new stablecoin associated with Brazilian Real and run it on the XRP Ledger (XRPL). The digital asset is likely to be out in the market by the first quarter of this year as part of the firm’s Braza On app.
Marcelo Sacomori, the CEO of Braza Group, said the stablecoin would be a “game-changer for global financial markets.” Designed for foreign currency payments, the asset is intended to increase the stability and effectiveness of cross-border operations.
According to the announcement, this stablecoin, integrated with the XRPL blockchain, will enable fast and inexpensive transactions that comply with Brazilian legislation.
Brazil on the digital asset market map
This comes at a time when Brazil is gradually embracing the blockchain industry and other virtual assets. As we reported, it also approved the first XRP exchange-traded fund (ETF) to affirm the country’s institutional embrace of blockchain technology. The upcoming ETF will also offer approved access to XRP for investors in the market as well.
Brazil is among the leading countries most involved in the cryptocurrency market, with the central bank working to create a digital real (DREX). The launch of a stablecoin on XRPL is part of a larger strategy to implement blockchain into the country’s economy.
XRPL has positioned itself as a key player in blockchain-based payments, attracting projects that prioritize efficiency and security. With its decentralized exchange and fast settlement capabilities, the network continues to gain traction in the financial sector.
“Launching a stablecoin like BBRL on the XRP Ledger creates significant opportunities for the Brazilian market while also laying the groundwork for broader adoption across South America and beyond.”
Markus Infanger, Senior Vice President, RippleX.
XRPL has positioned itself to appeal to projects that seek efficient and secure solutions for blockchain-based payment systems. Through the decentralized exchange and instantaneous transactional facilities, the network remains a prominent platform in the financial market. The adoption of Braza’s stablecoin will contribute positively on XRPL as it will enable business entities and individuals to carry out financial transactions outside traditional banking systems.
XRPL’s decentralization debate
The launch occurs at a time when issues concerning the decentralization of the XRPL are being debated. Some of the criticisms leveled include that Ripple needs to maintain and control the central processing network. Addressing these concerns, Ripple CTO David Schwartz explained that the network has decentralized governance and that XRPL is not owned by Ripple.
To answer based on what I think you're asking, I don't think there's any way to know. For example, there was no way to know who controlled the bitcoin block size until attempts were made to change it. We had to guess about whether Vitalik could spearhead Ethereum's change to PoS.
— David "JoelKatz" Schwartz (@JoelKatz) February 19, 2025
As outlined by Schwartz, Ripple has a role to play. The network operates through consensus, with more than 150 nodes making up the validators. XRPL changes cannot be implemented directly as the network determines them.
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