According to ChainCatcher, cryptocurrency solutions company Ripple recently launched a local fund to support Brazilian projects using the XRP blockchain XRP Ledger (XRPL) as a tool to enhance their capabilities.
Julia Heitner, manager of the XRPL grant program, said Brazil is the first country to implement this local initiative due to various factors that favor blockchain initiatives, including "the country's advanced developer ecosystem, mature digital payment infrastructure, and forward-looking public policies regarding the tokenization of capital markets."
While the company did not specify the amount allocated to this pilot fund, typically projects that apply for XRPL grants can receive funding between $10,000 and $200,000. The XRPL grants website explicitly states that awards of $100,000 and above are typically destined for developers who have previously completed similar projects.
