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In the full sparkling of the market crypto, Brazil denotes a historical turning point by approval of the first ETF XRP place in the world, while the local bank is preparing to start innovative stablecoin in the XRP Ledger network.
Brazil launches the first place ETF XRP
On February 19, 2024, the Brazilian financial regulator (CVM) verified the launch of the Hashdex Nasdaq XRP index fund, which is first the world cash register.
This preliminary position of Brazil as a pioneer on the market crypto, especially in front of the United States, where SEC still studies several similar requirements of Coinshares, Canary Capital and Wisdomtree.
Hashdex Management Company, already known in Brazil for its bitcoins ETF, Ethereum and Solana, enriches its investment offer. Although the beginning of negotiations on the Brazilian B3 scholarship has not yet been established, this announcement has caused the price of the XRP to jump by 7.8 %and reached $ 2.72.
Ryan Lee, the main analyst of Bitget Research, emphasizes the importance of this decision: “ This world premiere could speed up Crypto ETF approval in other countries and contrast with a more cautious access to US security. This innovation strengthens the position of Brazil as the main player in institutional acceptance of cryptocurrencies.
Brazilian bank is innovating with stablecoin on the book XRP
In addition to this world premiere, the Braza group, the main player on the Brazilian interbank market, announced the upcoming BBRL, Stablecoin supported by Brazilian Réal on the blockchain XRP. This initiative, planned for this first quarter of 2025, illustrates the growing trust of traditional financial institutions towards Blockchain technology.
Marcelo Sacomori, CEO of Braza Group, plans to conquer 30 % of the Brazilian market by the end of 2025. strategy.
This innovation is part of the wider context of the modernization of the Brazilian financial system, in particular through the DREX project, the Blockchain initiative in the central bank exploring the tokenization of assets and payments to the cross guarantee.
The convergence of these main progress with ETF XRP and Stablecoin Bbrl strengthens the location of Brazil as the basic innovation center in the ecosystem crypto. This dynamics supports increased institutional acceptance of XRP and Blockchain technologies in Latin America. In addition, the country is investigating the creation of a strategic reserve in bitcoins, resit, initiative transmitted by Eros Biondini.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.