Background: Brazilian financial services company Braza Group launched the US dollar-backed stablecoin USDB on the XRP Ledger (XRPL) on May 22. USDB is pegged 1:1 to the US dollar, fully backed by US and Brazilian government bonds, and undergoes regular audits to ensure transparency and asset backing.

Key Event: USDB aims to provide fast, low-cost cross-border payment solutions for institutional and retail digital financial transactions, especially targeting the Latin American market. Braza Group also issued another stablecoin, BBRL. Both are based on the XRPL blockchain, leveraging its fast settlement and low transaction cost advantages. The CEO of Braza Group stated that USDB offers Brazilian individuals and businesses new tools to hedge volatility and accelerate operations.

Regulatory Developments: The launch of USDB coincides with regulatory progress on stablecoins in the US, particularly the passing of the GENIUS Act, which aims to strengthen regulation of stablecoins. Additionally, European company Schuman Financial has launched the euro-backed stablecoin EURØP on XRPL, compliant with the EU MiCA regulations.

Potential Impact: By issuing USDB and BBRL on XRPL, Braza promotes connectivity and efficiency within the Brazilian and Latin American digital asset communities, laying the groundwork for tokenization and digital settlement in local and international markets.

HIGHLIGHTS Braza launches USDB, a USD-backed stablecoin on XRPL, backed by U.S. and Brazilian bonds. USDB and BBRL on XRP Ledger enable fast, low-cost cross-border payments across Latin America. USDB’s launch coincides with U.S. stablecoin regulation progress under the GENIUS Act. In a recent XRP news update, Brazil-based financial services company Braza Group has launched a new USD-backed stablecoin, USDB, on the XRP Ledger (XRPL). The announcement was made on May 22, as part of Braza’s broader effort to expand digital asset solutions across Latin America and beyond.

XRP News: Braza Group USDB Dollar-Backed Stablecoin

According to a press release issued by the company, USDB is pegged 1:1 to the U.S. dollar and is fully backed by U.S. and Brazilian government bonds. USDB is subject to regular audits by Braza Group to ensure transparency and asset backing.&nbsp;

As highlighted in the XRP news, Braza designed this stablecoin for both institutional and retail digital financial transactions.

Individuals can purchase the USDB stablecoin via the Braza On application, while institutional clients can also access the asset. Braza Group aims to make USDB a secure and accessible tool for fast and low-cost international payments, especially for remittances and cross-border commerce..

Strategic Integration with XRP Ledger

Braza’s stablecoins, the USDB and the earlier launched BBRL, are both issued on the XRP Ledger. XRPL is a public, decentralized Blockchain that handles fast settlement and low transaction costs. It has processed more than 3.3 billion transactions, supporting more than six million wallets worldwide.  In addition to new stablecoins, it is worth mentioning the XRP news about the launch of Vaultro Finance’s decentralized index fund dashboard.

Marcelo Sacomori, CEO of Braza Group, stated, “With USDB, Brazilian individuals and companies gain new alternatives to hedge against volatility and speed up their operations.” He added that Braza is committed to delivering financial tools that meet strict compliance and security standards.

By launching both BBRL and USDB on the same blockchain, Braza is able to operate under a unified infrastructure. This will help facilitate financial use cases in tokenization and digital settlements in local as well as international markets.

Stablecoin Regulation Amid USDB Launch
Given&nbsp;that stablecoin regulation is advancing globally, the launch of USDB arrives at the right time. Most recently, the US Senate passed a key procedural vote on&nbsp;the GENIUS Act,&nbsp;which aims to provide stablecoin oversight. Financial institutions wanting to launch or broaden stablecoin solutions are monitoring this development.

In another XRP news, European firm Schuman Financial introduced EURØP, a euro-backed stablecoin, also on the XRP Ledger. The ACPR licenses EURØP under France’s central bank and fully complies with MiCA regulations, the European Union’s regulatory framework for crypto assets.

Ripple LATAM Managing Director Silvio Pegado commented,
“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.”

Braza Group launches USD-backed stablecoin USDB on the XRP ledger to promote cross-border payments in Latin America