The head of banking at Mercado Bitcoin, Jordan Abud, said that this partnership with is an opportunity for the exchange to further its services and internationalize. In fact, Brazil is a familiar market, considering how the company began operations in Brazil back in 2019 and also launched the Brazil Fund as it looks to foster the development of XRP Ledger (XRPL) in the country..
Latin America Domination with Stablecoin and Payments
Ripple is a financial technology company focused on enabling fast international money transfers. It’s also the company behind XRP, currently the seventh-biggest cryptocurrency by market capitalization. The company was sued in 2020 by the SEC, which said the San Francisco company broke the law in raising money by selling its digital token without filing with the agency as a security.
The SEC filed its aforementioned appeal a day after Bitwise Asset Management Inc. became the first company to file with the securities regulator an application for an ETF that directly invests in XRP, the world’s seventh-largest digital token. Coming off last year’s partial win against the Securities and Exchange Commission – a result seen as a victory for the digital asset industry.
The company is continuing to grow and expand in Latin America after a deal earlier with Colombia’s central bank to explore central bank digital currency technology.
Since opening its Brazilian office, the company has identified the region as a “critical hub” for crypto innovation, tugged both ways by high adoption rates and increasing financial inclusion.
Ripple Labs CEO Brad Garlinghouse also recently said its US-dollar pegged stablecoin, RLUSD, will soon be released. “Weeks not months,” Garlinghouse added. He also explained that, as it prepares to launch its stablecoin-expected first to launch in the US before expanding internationally – Ripple is working proactively with US regulators toward compliance.
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Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Publish date : 2024-10-03 04:33:00
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