Ripple has announced the expansion of its digital asset services in Brazil and plans to apply for a Virtual Asset Service Provider (VASP) license from the Central Bank of Brazil to be incorporated into the country's cryptocurrency regulatory framework. Currently, several Brazilian institutions have connected to the Ripple network. Banco Genial processes same-day USD transfers through the network; Braza Bank uses it for foreign exchange settlements and has issued a Real-backed stablecoin on XRP Ledger; and fintech company Nomad uses the network to settle fund transfers between Brazil and the United States in stablecoin form. Furthermore, partners such as CRX and Justoken are issuing tokenized assets using Ripple's custody products, covering real-world assets such as commodities. (CoinDesk)