Braza Group, One of the Largest Financial Institutions in Brazil, Unveils USDB

Braza Group, one of the largest financial groups in Brazil, unveiled USDB, a dollar-pegged stablecoin issued on top of the XRP Ledger.

Braza Group, a financial institution with the sixth-largest interbank volumes in Brazil, has launched USDB, a dollar-pegged stablecoin issued on top of the XRP Ledger.

Available to institutional customers since March, the token will be accessible to regular customers through the group’s app starting in May, according to a recent press release.

The stablecoin is backed by U.S. and Brazilian government bonds, and will be audited regularly to ensure the integrity of its offering to its customers.

With this move, Braza Group wants to position itself as a provider of another stablecoin offering, enhancing the diversity of options in Brazil and Latin America and taking advantage of the speed and low fees that the XRP Ledger offers.

“With USDB, Brazilian individuals and companies gain new alternatives to hedge against volatility and speed up their operations. We are committed to offering a stablecoin that not only meets but exceeds the highest standards of security and compliance,” said Marcelo Sacomori, CEO of Bra