Can Braza’s USDB Stablecoin Disrupt the Global Remittance Market?

Brazilian financial services firm Braza Group has launched USDB, a USD-pegged stablecoin built on the XRP Ledger (XRPL), aiming to simplify cross-border payments and mitigate currency volatility for Brazilian users. The token aims to tackle high remittance fees and fluctuations common in international transactions by offering stability against local currency shifts. Their earlier stablecoin project, BBRL tied to Brazil’s real, targets institutional clients on XRPL and will expand to retail users in the near future. 2023 has seen significant growth within the stablecoin market as a whole, with Braza’s new launch aiming to capitalize on this trend.