Key Takeaways:
- Brazil’s First Spot XRP ETF: The Hashdex Nasdaq XRP Index Fund has been approved by Brazil’s securities regulator (CVM) and will trade on the B3 exchange.
- BBRL Stablecoin on XRPL: Braza Group is launching a Brazilian real-pegged stablecoin (BBRL) on the XRP Ledger, with a planned Q1 2025 launch and a 30% market share target.
- Crypto Growth in Brazil: The country is strengthening its blockchain ecosystem with ETFs, stablecoins, and regulatory initiatives like DREX for asset tokenization and payments.
Brazil’s securities regulator, Comissão de Valores Mobiliários (CVM), has approved the country’s first spot XRP exchange-traded fund (ETF), sparking an 8% increase in XRP’s price.
The Hashdex Nasdaq XRP Index Fund will be listed on Brazil’s B3 exchange, though the launch date has yet to be announced.
JUST IN: 🇧🇷 Brazil's SEC registers Hashdex's spot $XRP ETF.
— Watcher.Guru (@WatcherGuru) February 19, 2025
Hashdex already manages several crypto ETFs in Brazil, including Bitcoin, Ethereum, and Solana.
Meanwhile, in the U.S., the SEC has acknowledged multiple filings for spot XRP ETFs from Nasdaq and Cboe BZX.
Simultaneously, Braza Group, a major player in Brazil’s interbank market, announced the launch of BBRL, a Brazilian real-pegged stablecoin built on Ripple’s XRP Ledger (XRPL).
🇧🇷 Braza Bank is launching a stablecoin pegged to the Brazilian Real!
— Crypto Banter (@crypto_banter) February 20, 2025
Built on Ripple’s Blockchain, XRP Ledger…
This move brings more innovation to Brazil’s digital finance. 🚀
The stablecoin will be backed by Braza Bank, which focuses on foreign exchange services and international payments.
BBRL is expected to launch in Q1 2025, initially serving institutional clients before expanding to retail users.
Braza Group aims for the stablecoin to capture 30% of the Brazilian market by 2026.
Brazil’s central bank is also advancing blockchain innovation through DREX, a tokenization and cross-border payment initiative.
With both regulated crypto ETFs and stablecoins on XRPL, Brazil is strengthening its position as a leading blockchain hub in Latin America.
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