TechFlame reports that Ripple has announced an expansion of its digital asset services in Brazil, with plans to apply for a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil. This move aims to integrate the company into the country’s cryptocurrency regulatory framework. Currently, multiple Brazilian institutions are already connected to the Ripple network. Banco Genial uses the network for same-day USD transfers; Braza Bank employs it for foreign exchange settlements and has issued a Brazilian Real-backed stablecoin on the XRP Ledger; fintech firm Nomad leverages the network to settle fund transfers between Brazil and the United States using stablecoins. Additionally, partners such as CRX and Justoken are utilizing Ripple’s custody products to issue tokenized assets, covering real-world assets like commodities.