The Brazilian Securities Market Regulator has approved the first XRP Spot Exchange-Traded Fund (ETF) in the country, enabling trading of this asset. The Hashdex Nasdaq XRP Index Fund received approval from the Brazilian Securities Commission on February 19, 2025, allowing it to trade on the Brazilian stock exchange. However, a specific date for its trading commencement has not been announced yet. Meanwhile, the Braza Group in Brazil’s interbank market will introduce a new stablecoin connected to the Brazilian real on the Ripple blockchain (XRP Ledger). Marcelo Saccomori, CEO of the Braza Group, stated that this stablecoin, known as BBRL, will be released with the highest security standards and compliance with regulations, supported by the Braza Bank specializing in currency services and international payments. The stablecoin is expected to launch in the first quarter of 2025 and initially be available only to institutional clients. Saccomori predicts that by the end of next year, BBRL will capture about 30% of the Brazilian market.
