Crypto's use cases continue to climb in Latin America after XRP-issuer Ripple announced that its RippleNet ODL will be used to facilitate cross-border transactions in Brazil via Travelex.
While other Latin American companies such as Banco Rendimento, Remessa Online, Frente Corretora, and Banco Topazio have already used RippleNet services, the Central Bank of Brazil’s approval makes this the first time a Latin American bank has utilized ODL, said Ripple.
Ripple CEO Brad Garlinghouse said Brazil’s adoption of a crypto-friendly regulatory framework and surging institutional interest in digital asset solutions made the country a great fit for the ODL:
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