TechFlow news: According to Ripple's official announcement, Braza Group, Brazil's sixth-largest financial market infrastructure provider, has announced the issuance of BBRL, a stablecoin pegged to the Brazilian real on the XRP Ledger (XRPL). The stablecoin is backed by Braza Bank and is scheduled to launch in the first quarter of 2025 via the Braza On application.
Marcelo Sacomori, CEO of Braza Group, stated that BBRL will offer new options for individuals and businesses in Brazil to hedge against volatility and streamline operations. Additionally, the company has participated in the Central Bank of Brazil's DREX project, proposing four use cases including public blockchain applications and bond tokenization.
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