↑ BRL Coin: A Pivotal Force in Brazil's Crypto Upsurge
Ripple has celebrated the Brazilian Real Stablecoin on the XRP Ledger. This announcement came as Brazil, leading LATAM in cryptocurrency trading,...
Observations made from multiple updates reveal a noteworthy increase in Brazil's involvement in the cryptocurrency market. Brazil was the lead in LATAM crypto trading with a trading volume of $6B in 2024. Moreover, cryptocurrency exchanges such as Binance and KuCoin continue to expedite processes for crypto trading for various currencies including Bitcoin and Ethereum, in countries like Argentina, Brazil, and South Africa. Binance has, in fact, extended its zero fee promotion to these areas.
Another significant highlight is the support of Ripple for Brazilian Real Stablecoin on XRP Ledger. This is reflected in a move by Brazil's Central Bank, which has begun uploading CBDC files to GitHub, signaling the imminent rollout of a digital BRL. Confirming the increasing acceptance of digital currencies, Brazil's new digital currency recently secured a name - 'Drex'.
Furthermore, policies from the Brazilian Central Bank are being leveraged by crypto exchanges, with KuCoin advancing supporting of BRL transfers and Binance suspending withdrawals and deposits in the region, in conformity with the new policy. Trading platforms OKEx and Coinbase are also marking their presence in LATAM through partnerships and introductions of new services.
Notably, the Brazilian Real (BRL) performs against the U.S. dollar, and the rate of Euro from EUR to BRL is reported every day. News of significant price spreads also exists, especially between Russian Ruble and Brazilian Real.
BRL Coin News Analytics from Wed, 02 Jul 2008 07:00:00 GMT to Wed, 03 Jul 2024 18:27:34 GMT - Rating 6 - Innovation 6 - Information 7 - Rumor 4
