Unthinkable! XRP Ledger has a breakthrough! Brazilian Real stablecoin may cause a market storm

Brazilian payment company Braza Group announced that it will launch a stablecoin pegged to the Brazilian Real on the XRP Ledger (XRPL). The product is expected to debut in the first quarter of this year through the Braza On application, which is designed for institutional clients.

Braza CEO Marcelo Sacomori said that this stablecoin will bring "huge value" to the global market and predicted that by 2026, the stablecoin will occupy 30% of the Brazilian market. He also believes that in five years, all currency exchanges will involve stablecoins.

In addition, Brazil recently approved the first XRP exchange-traded product (ETF), which is expected to be launched soon. This is part of Ripple's continued layout in Brazil. Ripple has set up an office in the country since 2019 and has cooperated with Brazilian financial institution Fenasbac to explore emerging fintech opportunities. Ripple also donated a large amount of money to the victims of the Brazilian floods.

As Brazil gradually becomes a key market for cryptocurrencies, Ripple continues to work with global payment providers to improve cross-border payment efficiency and further consolidate its market position in Latin America.