Explore the latest developments concerning XRP-associated Ripple seeking.
Ripple, the payments-focused blockchain company closely associated with the XRP Ledger (XRP) network, is expanding its digital asset services in Brazil while preparing to apply for a license with the country’s central bank, a move that would place it under the nation’s new crypto framework.
The company said Tuesday it is rolling out a broader set of services that bundle cross-border payments, digital asset custody, brokerage and treasury tools. It said the combined offering targets banks and fintechs that want to move money across borders, hold crypto and manage liquidity in one system.
It said it also plans to apply for a Virtual Asset Service Provider (VASP) license with the Central Bank of Brazil (BCB), in line with the country's crypto regulation.
XRP Flips BNB, Hitting Highest Price in a Month as Ripple Plans to Seek Brazil License
Ripple-linked coin XRP jumped Binance's BNB to become the fourth-largest cryptocurrency by market cap amid news the financial services firm is expanding its payments offerings in Brazil and plans to seek a local license.
XRP is even in the last 24 hours and up 8.5% in the last week, recently changing hands at $1.51. Late Monday, the coin hit a price of $1.60—its highest trading price in the last month.
On the other hand, BNB is down 1.1% over the last 24 hours to a recent price of $668, and has only gained around 2.7% in the last week of trading, allowing XRP to leapfrog it in terms of market cap.
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XRP reclaimed the spot of the world's fourth-largest cryptocurrency as its market capitalization climbed from $90.5 billion to $92.5 billion over the last 24 hours.
In contrast, BNB's market cap dropped from $92.6 billion to $90.8 billion over the last 24 hours as XRP took over it.
XRP's price has risen 2% over the last 24 hours—the highest climb among the top 13 cryptocurrencies.
Bitcoin (BTC), Ethereum (ETH), and Tether's USDT still remain the top three cryptocurrencies with market caps of $1.47 trillion, $279.8 billion, and $184 billion.
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XRP is the native token of the XRP Ledger, a blockchain network developed by some of the team behind Ripple Labs that was launched in 2012.
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