Braza Launches BBRL: Brazil's First Real-Linked Stablecoin on XRPL
1min read Braza Group, an international payment firm, has introduced BBRL, a stablecoin linked to the Brazilian Real, built on the XRP Ledger (XRPL). The company aims to facilitate easier and safer transactions for individuals and businesses through this digital currency.
Braza Group, with over 15 years in the banking sector, is now venturing into digital finance with the launch of BBRL. The stablecoin is designed to provide Brazilians and businesses with a secure and stable means of trading and investing, mitigating the risks associated with sudden price fluctuations. Marcelo Sacomori, CEO of Braza Group, believes that BBRL will enable businesses to manage money more efficiently and create new opportunities.
BBRL will initially be available to institutional clients in early 2025, with individual access to follow through the Braza On app. The choice of XRPL as the underlying platform is attributed to its speed, security, and ability to handle large transactions. Markus Infanger, Senior Vice President of RippleX, confirms that XRPL is an ideal fit for stablecoins like BBRL.
Braza Group is also partnering with the Brazilian Central Bank on the DREX project, aiming to connect traditional banks with blockchain technology. This collaboration seeks to enhance the interaction between the Central Bank and the Securities and Exchange Commission (CVM) through a secure system.
BBRL is not the first stablecoin on XRPL, with Ripple USD (RLUSD) stablecoin already released on the network. As Brazil implements more regulations to support digital assets by 2025, Sacomori estimates that BBRL could capture about 30% of the market by the end of next year. He anticipates that stablecoins will play a significant role in global finance.
