🚀 BBRL rises to second place thanks to the growth of Brazilian real currencies on the XRP Ledger
🧾 The XRP Ledger has quickly become a major global settlement layer for stablecoin activity, especially currencies linked to the Brazilian real (BRL).
📊 According to data from Dune Analytics:
In July, BrazaBank minted over $4.2 million of the BBRL stablecoin.
This made BBRL the second largest stablecoin denominated in Brazilian real after the BRZ currency issued by Transfero Group.
📈 The chart showed a sharp jump in BBRL activity, reflecting accelerated growth compared to BRZ, which was previously dominant but is now growing at a slower pace.
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💵 Rise in RLUSD transfers and competition among BRL tokens
🔹 Alongside the expansion of BBRL, transfers of RLUSD (a stablecoin pegged to the US dollar) have seen a significant increase:
From 5,000 to over 12,000 transfers daily.
🔸 This indicates that the adoption of the XRP Ledger has expanded to include not only BRL currencies but also dollar-denominated currencies.
📍 The Brazilian market is witnessing strong competition among tokens such as:
BBRL
BRL1
BRLA
cREAL
But BBRL outperformed in terms of performance and activity in July.
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🌍 Promising future
🧩 With the continued adoption of the network by financial institutions such as BrazaBank, the XRP Ledger is expected to solidify as a reliable and secure platform for dealing in digital currencies backed by fiat.