Ripple's Brazil Move: A Small Setback

Ripples Brazil Expansion Faces Regulatory Hurdle, But Global Growth Persists Ripple made significant strides in Brazil, offering custody services, stablecoin deals, and aiming for a central bank license. However, a new regulation bans fintechs and payment firms from using stablecoins for international remittances via eFX systems, effective October 1st. The ban is narrower than it seems, only affecting offshore payments, and licensed virtual asset service providers can still use stablecoins for cross-border flows. Despite initial concerns, Ripples Brazilian stablecoin partner remains operational, and Ripple is applying for a VSP license to maintain cross-border services. With over 100 global partnerships and $1 billion in tokenized real-world assets, Brazil is just one market in Ripples global expansion. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9d80187bad85d2e9