Ripple Applies for Brazil License, Eyes Custody Service
Ripple Labs is expanding into Brazil's crypto market by building a unified platform for custody, prime brokerage, stablecoin settlements, and treasury management after formally applying for a Virtual Asset Service Provider license on March 17.
Key Takeaway
Ripple's Brazil license application signals a strategic push into Latin America's largest crypto market under new regulations.
Ripple Labs applied for a Virtual Asset Service Provider license from Brazil's Central Bank on March 17, marking a major expansion into the country.
The company is building a unified platform that includes custody, prime brokerage, stablecoin settlements, and treasury management. Brazilian institutions will also get access to FX, digital assets, and derivatives clearing through the infrastructure. Ripple integrated real-time compliance screening from Chainalysis and Elliptic into its bank-grade storage solution.
Local partners CRX and Justoken have already tokenized hundreds of millions in real-world assets using Ripple infrastructure. Ripple's stablecoin has been adopted by Mercado Bitcoin, Foxbit, Ripio, Braza Bank, and Banco Genial. Ripple's 24/7 liquidity and risk management system will support cross-border payments and repo markets for Brazilian firms.
The timing aligns with Brazil's comprehensive cryptocurrency legislation that took effect in late 2025, creating the regulatory framework Ripple is now working within. The company has applied for similar financial licenses in Australia while focusing partnership efforts in North America. The VASP application positions Ripple as one of the first major institutional players operating under Brazil's formalized virtual asset rules established in late 2025.
This article was written based on reporting from U.Today.
