Braza Group launches USDB, a USD-backed stablecoin on the XRP Ledger, to enable fast, low-cost global payments in the latest XRP news.
In a recent XRP news update, Braza Group, a financial services company based in Brazil, has introduced a new USD-backed stablecoin, USDB, on the XRP Ledger (XRPL).
Braza’s announcement was made on May 22 as part of its overarching initiative to broaden the availability of digital asset solutions throughout Latin America and beyond.
XRP News- Braza Group USDB Dollar-Backed Stablecoin
USDB is wholly backed by US and Brazilian government bonds and pegged 1:1 to the US dollar, as stated in a press release.
Braza Group conducts routine audits of USDB to guarantee transparency and asset support.
Braza developed this stablecoin to facilitate digital financial transactions in institutional and retail settings, as indicated in the XRP news.
The USDB stablecoin is available for purchase by individuals through the Braza On application, and institutional customers can also access the asset.
Braza Group aims to establish USDB as a secure and accessible instrument for fast and low-cost international payments, particularly for remittances and cross-border commerce.
Strategic Integration With XRP Ledger
The XRP Ledger is the platform on which Braza’s stablecoins, the USDB, and the BBRL, were previously launched.
XRPL is a public, decentralized Blockchain that facilitates rapid settlement and minimal transaction fees.
It has supported over six million purses worldwide and processed over 3.3 billion transactions.
The XRP news regarding the launch of Vaultro Finance’s decentralized index fund dashboard is noteworthy, in addition to the introduction of new stablecoins.
“Brazilian individuals and companies acquire new alternatives to mitigate volatility and expedite their operations through USDB,” stated Marcelo Sacomori, CEO of Braza Group.
He further noted that Braza is dedicated to providing financial instruments that adhere to rigorous security and compliance protocols.
Braza can operate under a unified infrastructure by deploying BBRL and USDB on the identical blockchain. This will assist in facilitating financial use cases in tokenization and digital settlements in local and international markets.
Regulation Of Stablecoins During USDB Launch
The introduction of USDB is timely, as stablecoin regulation is advancing globally.
The US Senate recently passed a critical procedural vote on the GENIUS Act, which is designed to ensure stablecoin oversight.
This development is being monitored by financial institutions that are interested in launching or expanding stablecoin solutions.
Schuman Financial, a European firm, has introduced EURØP, a euro-backed stablecoin, which is also available on the XRP Ledger.
This is another piece of XRP news.
The ACPR licenses EURØP under France’s central bank and entirely complies with MiCA regulations, the European Union’s regulatory framework for crypto assets.
Silvio Pegado, the Managing Director of Ripple LATAM, stated,
“By issuing both BBRL and USDB on the XRP Ledger, Braza is helping lay the foundation for a more connected and efficient digital asset community in Brazil.”
