On May 21, 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 that Brazil is the first country to implement this local initiative because of various factors that are conducive to blockchain initiatives. These factors include "the country's advanced developer ecosystem, mature digital payment infrastructure, and forward-looking public policies on capital market tokenization." Although the company did not specify the amount allocated to this pilot fund, projects applying for XRPL grants can usually receive funding of $10,000 to $200,000. The XRPL grant website clearly states that rewards of $100,000 and above are usually destined to be allocated to developers who have previously completed similar projects.

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