In full effervescence of the Crypto market, Brazil marks a historic turning point by approving the first ETF XRP spot in the world, while a local bank is preparing the launch of an innovative stablecoin on the XRP Ledger network.
Brazil launches the first ETF XRP spot
On February 19, 2024, the Brazilian financial regulator (CVM) validated the launch of the Hashdex Nasdaq XRP Index fund, marking a world first for an cash register.
This advance positions Brazil as a pioneer on the crypto market, notably ahead of the United States where the SEC is still studying several similar requests filed by Coinshares, Canary Capital and Wisdomtree.
The Hashdex management company, already known in Brazil for its Etf Bitcoin, Ethereum and Solana, thus enriches its investment offer. Although the start of negotiations on the Brazilian B3 scholarship has not yet been set, the announcement has made the XRP price jump 7.8 %, reaching 2.72 dollars.
Ryan Lee, chief analyst at Bitget Research, underlines the importance of this decision: “ This world premiere could accelerate the approval of ETF crypto in other countries, contrasting with the more cautious approach of the American Security. This innovation strengthens the position of Brazil as a major player in the institutional adoption of cryptocurrencies.
A Brazilian bank innovates with stablecoin on XRP Ledger
In addition to this world premiere, the Braza group, a major player in the Brazilian interbank market, announced the upcoming launch of the Bbrla stablecoin leaning against the Brazilian Réal on the XRP Ledger blockchain. This initiative, scheduled for this first quarter of 2025, illustrates the growing confidence of traditional financial institutions towards Blockchain technology.
Marcelo Sacomori, CEO of Braza Group, plans to conquer 30 % of the Brazilian market by the end of 2025. The group will first deploy stablecoin to institutional customers, then will open it to individuals, thus demonstrating its desire to adopt a progressive and controlled strategy.
This innovation is part of a broader context of modernization of the Brazilian financial system, in particular through the DREX project, a blockchain initiative of the Central Bank exploring the tokenization of assets and cross -border payments.
The convergence of these major advances, with the launch of the ETF XRP and the Stablecoin BBRL, strengthens the positioning of Brazil as an essential innovation center in the crypto ecosystem. This dynamic promotes increased institutional adoption of XRP and blockchain technologies in Latin America. In addition, the country explores the creation of a strategic reserve in Bitcoin, Resbit, an initiative carried by the deputy Eros Biondini.
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