Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), has made history by approving the country’s first spot XRP ETF. The Hashdex Nasdaq XRP Index Fund received authorization on February 19, marking a pivotal moment for XRP adoption in Latin America.
Key Developments
- ETF Approval: The Hashdex fund will trade on Brazil’s B3 exchange, though the exact launch date remains undisclosed.
- Market Reaction: XRP surged 7.8% post-announcement, reaching $2.72—just 20% below its all-time high.
- Global Context: The U.S. SEC recently acknowledged similar spot XRP ETF filings from Nasdaq and Cboe BZX exchanges.
👉 Explore how XRP ETFs are reshaping crypto markets
Stablecoin Launch on XRP Ledger
Braza Group, a prominent Brazilian interbank player, announced plans to issue BBRL, a Brazilian real-pegged stablecoin, on Ripple’s XRPL blockchain.
Highlights:
- Backing: BBRL will be fully collateralized by Braza Bank, a leader in forex and international payments.
- Phased Rollout: Institutional clients gain access in Q1 2025, with retail availability later.
- Market Goals: Braza aims to capture 30% of Brazil’s stablecoin market by end-2025.
"Launching BBRL on XRPL creates opportunities for Brazil and wider South American adoption."
— Markus Infanger, RippleX SVP
Broader Crypto Trends in Brazil
Central Bank Initiatives
- DREX Project: A blockchain platform exploring tokenization, cross-border payments, and CBDC-like functions.
- Stablecoin Dominance: ~90% of Brazil’s crypto flows involve stablecoins, per central bank data.
FAQs
Q: How does the XRP ETF benefit investors?
A: It provides regulated exposure to XRP’s price movements without direct asset custody.
Q: Why choose XRPL for BBRL?
A: XRPL offers low-cost, fast transactions ideal for stablecoin efficiency.
Q: Is DREX a CBDC?
No—it’s an infrastructure project focused on credit optimization via tokenized assets.
👉 Learn more about XRPL’s role in stablecoin innovation
Conclusion
Brazil’s dual milestones—XRP ETF approval and XRPL stablecoin integration—signal growing institutional crypto adoption. Watch for updates as Hashdex and Braza Group finalize their 2025 launches.