PANews reported on February 20 that according to an official announcement from Ripple, Brazilian financial institution Braza Group announced the launch of the stablecoin BBRL on XRP Ledger to strengthen the digital economy of Brazil and South America.

It is reported that BBRL is a stablecoin pegged to the Brazilian real and guaranteed by Braza Bank. It can be used as an alternative for transactions and investments in Brazil. It is planned to be launched to institutional customers on the Braza On application in the first quarter of 2025, and B2C customers will also have direct access through the application.