XRP Hits 1-Month High as Ripple Seeks Brazil License

Edgen Crypto·Mar 17 2026, 17:42

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Key Takeaways

Ripple announced a significant expansion in Brazil, planning to apply for a Virtual Asset Service Provider (VASP) license to offer a comprehensive suite of financial tools. The market reacted strongly, sending the XRP token to its highest price in a month as investors priced in the potential for increased institutional adoption in Latin America's largest economy.

Ripple is expanding in Brazil, seeking a VASP license from the country's central bank to offer a full stack of crypto services to financial institutions.
The XRP token's price climbed to a one-month high of $1.60, flipping BNB to briefly become the fourth-largest cryptocurrency by market capitalization.
The move builds on existing Brazilian partnerships, targeting institutional adoption for cross-border payments, crypto custody, and real-world asset tokenization on the XRP Ledger.

XRP Climbs to $1.60 Monthly High on Brazil News

The XRP token responded directly to Ripple's strategic announcement, climbing to a monthly high of $1.60. The price action pushed XRP's market capitalization above that of BNB, making it the fourth-largest cryptocurrency for a period. Over the last week, the token gained 8.5%. This move was supported by a significant increase in derivatives activity, with open interest for XRP contracts increasing 33% over the past two weeks to $2.82 billion. The sharp rise in open interest suggests new capital is entering the market with increased conviction from traders regarding XRP's near-term prospects.

Ripple to Offer Full Financial Stack with VASP License Bid

Ripple is formalizing its presence in Brazil by applying for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil. This move will place the company under the country's new crypto regulatory framework, a key step for institutional credibility. The company is rolling out an integrated platform for banks and fintechs that combines cross-border payments, crypto custody, brokerage, and treasury management. This "full financial stack" aims to provide Brazilian institutions with a single system for international fund transfers, digital asset management, and liquidity services, bridging traditional finance with decentralized infrastructure.

Leveraging Existing Partners for Deeper LATAM Push

This expansion builds on Ripple's established operations in Latin America. Several Brazilian firms, including Banco Genial and Braza Bank, already use Ripple’s payment network for services like same-day U.S. dollar transfers and foreign exchange flows. Braza Bank has also issued a real-backed stablecoin on the XRP Ledger. The company is also promoting its custody solution to local partners like CRX and Justoken for the tokenization of real-world assets. Ripple's focus on the region reflects its strategic importance.

Latin America has always been a priority market for Ripple — not just because of the scale of the opportunity, but because Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world.

— Monica Long, President at Ripple.