Braza, a group of companies that specialize in international payments and transfers, is launching a stablecoin pegged to the Brazilian Real on the XRP Ledger (XRPL), according to a Wednesday announcement.
The product is expected to debut in the first quarter of this year on the Braza On app.
Braza Group CEO Marcelo Sacomori has stated that the stablecoin would bring “significant value” to global markets.
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Ripple claims that the product “represents a milestone in financial modernization.”
In other news, Brazil recently greenlit its first XRP exchange-traded product (ETF). The ETF is expected to be launched in the near future.
