Braza Group Launches USDB, a USD-Backed Stablecoin Targeting Latin America on the XRP Ledger

Braza Group plans to launch USDB, a USD-backed stablecoin on the XRP Ledger, to enable fast and low-cost global payments. The stablecoin will provide people in Latin America with a fast and low-cost option to make cross-border transactions.

"The USDB stablecoin is pegged 1:1 to the U.S. dollar and fully backed by U.S. and Brazilian government bonds. The company is regularly audited by Braza Group to confirm its assets and whether operations are transparent. The coin is accessible to both individuals and institutional clients, with retail users able to purchase USDB via the Braza On application.

USDB and BBRL to Enhance Financial Inclusion

Previously, Braza launched BBRL, a Brazilian Real-backed stablecoin, both of which are issued on the XRP Ledger. The XRP Ledger is known for its minimal fees and rapid transactions, making it ideal for stablecoin transactions. To date, the XRP Ledger has processed over 3.3 billion transactions for millions of wallets worldwide.

The company aims to provide USDB and BBRL to empower people in Latin America with convenient digital financial transactions. Leveraging the XRP Ledger's speed, Braza enables users to send money internationally and mitigate local economic challenges. Integration of these tokens into various services will grant individuals and businesses in the region seamless access to digital finance.

"We are focused on providing U.S. dollar and Brazilian Real stablecoins to make it easier for people in Latin America to send and receive money quickly and efficiently," said Marcelo Sacomori, CEO of Braza.

"As one of the fastest-growing regions in the world, Latin America is also home to some of the highest rates of inflation and economic instability. This can make it difficult for people to plan for the future or send money to loved ones in other countries."

According to Sacomori, USDB is crucial for Brazilians and businesses as it helps minimize unpredictable changes and accelerates financial processes. Moreover, it will aid in lowering cross-border transaction costs. Braza Group is focused on simplifying the process of sending and receiving money across the globe, especially for those in underbanked regions.

Global Stablecoin Regulation

The launch of USDB comes amidst increasing global attention on stablecoin regulation. The U.S. Senate recently passed a cloture vote on the GENIUS Act, drawing interest from financial institutions looking to expand their stablecoin services. In Europe, Schuman Financial’s EUROP stablecoin, operating on the XRP Ledger, has gained traction as more individuals and institutions are interested in investing in regulated crypto assets.

Braza's stablecoin expands on its broader plans for growth in Latin America. The company has partnered with leading banks, fintech firms, and payment providers to facilitate broader use of the stablecoin. With rising demand for digital financial tools in the region, USDB is poised to transform the landscape of financial services in new markets.