BBRL, issued by BRAZA BANK S.A. Banco de Câmbio, is a fiat-pegged stablecoin that represents a claim redeemable at par into Brazilian reais, maintaining a fixed ratio of 1 BBRL to 1 Brazilian real (BRL) [S1].

Holders receive a token pegged 1:1 to the Brazilian real (BRL), redeemable back into reais at par [S1][S2]. The peg is static, with no holder yield, NAV accrual, rebasing, or coupon pass-through disclosed [S1]. Reserves are held at a ratio equal to or exceeding circulating supply in cash, cash equivalents, and short-term low-risk BRL-denominated government securities, with reais held in bank accounts [S3][S2]. The issuer makes general low-cost claims without a disclosed mint, redemption, spread, or management fee schedule [S1].

BBRL is issued by BRAZA BANK S.A. Banco de Câmbio, a foreign-exchange bank (banco de câmbio) incorporated in Brazil and authorized to operate by the Banco Central do Brasil (Central Bank of Brazil), institution no. 128 [S4]. The token is presented as a stable digital currency pegged to the Brazilian real and redeemable into reais at any time [S1][S2]. Access runs through institutional channels and the Braza On retail app under integrated KYC, AML, and KYT processes, available since September 2025 to both institutional and retail users [S5][S6][S7]. A Proof of Reserves parity commitment, with reserves equal to or exceeding circulating supply, applies [S3].

BBRL is issued natively on the XRP Ledger (XRPL) and has additionally expanded to BNB Chain, officially available as of December 2025 [S5][S6]. Tokens are minted when customers deposit reais with Braza and receive tokens 1:1, with redemption burning the equivalent supply [S2]. Onchain FX conversions are described as settling in under two minutes [S5]. The peg is a fixed 1:1, with no price oracle published [S1].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://www.brazabank.com.br/bbrl/" },
    { id: "S2", url: "https://www.brazabank.com.br/conteudo/stablecoins-atreladas-ao-real-como-funcionam/" },
    { id: "S3", url: "https://sites.braza.com.br/images/BBRL_White_Paper_English_Version_1aaa38f420.pdf" },
    { id: "S4", url: "https://www.brazabank.com.br/" },
    { id: "S5", url: "https://www.brazabank.com.br/conteudo/cambio-onchain/" },
    { id: "S6", url: "https://www.brazabank.com.br/conteudo/bbrl-on-bnb-smart-chain/" },
    { id: "S7", url: "https://www.brazabank.com.br/conteudo/usdb-paridade-dolar/" },
  ]}
/>


# Asset senders (monthly) methodology

## 1. Overview

Asset senders (monthly) is defined as the number of unique addresses from which asset transfers are initiated over a rolling 30-day period. For each tracked asset, outgoing transfer transactions are analyzed across supported blockchains to identify the sending addresses. These addresses are deduplicated over a 30-day window to represent the monthly active sender base. This metric is utilized to evaluate user adoption, transactional activity, and the overall utility of tokenized assets.

## 2. Data sources

- **EVM chain events**: Token transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Aptos, Sui, Cardano, and Stellar Classic data**: Token withdraw transactions
- **Stellar Soroban, Algorand, Near, Injective, and Ripple data**: Token transfer transactions
- **Polkadot Asset Hub events**: `Transferred` events from `assets` pallets
- **Asset metadata**: Token contract addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract daily asset senders

- **Purpose**: Identify unique addresses initiating transfers on a daily basis
- **Logic**: On EVM-compatible chains, token transfer events are parsed to extract the sender address from the transaction, excluding the zero address. On Solana, token transfer instructions are parsed to identify the authority address. On Aptos, Sui, Cardano, and Stellar Classic, token withdraw transactions are parsed to extract the account address. On Stellar Soroban, Algorand, Near, and Injective, token transfer transactions are parsed to extract the sender address, excluding null addresses. On Ripple, token transfer transactions with negative values are parsed to identify the sending account address. On Polkadot Asset Hub, `Transferred` events from `assets` pallets are parsed to extract the sender address. For all chains, the extracted addresses are grouped by day and token address to produce a daily record of unique senders.
- **Key fields**: `timestamp` (block day), `token_address` (asset identifier), `sender_address` (initiating address)

### Component B: Aggregate rolling monthly senders

- **Purpose**: Calculate the unique sender count over a rolling 30-day window
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a 30-day lookback window is constructed, encompassing the current day and the preceding 29 days. Daily sender addresses collected within this window are aggregated and deduplicated. The total number of unique, deduplicated addresses is then counted for each asset on each day.
- **Key fields**: `timestamp` (calculation day), `token_address` (asset identifier), `asset_senders` (unique monthly sender count)

### Component C: Final aggregation and zero-filling

- **Purpose**: Combine data across chains and fill missing activity days
- **Logic**: The deduplicated monthly sender counts are aggregated at both the individual chain level and the global asset level. For days where no transfer activity is recorded for a tracked asset, the metric is filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (reporting day), `chain_id` (blockchain identifier), `token_address` (asset identifier), `asset_senders` (final monthly unique sender count)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique asset senders over a rolling 30-day window.

Asset senders (monthly)

Stablecoins

Users deposit fiat (BRL or USD) into Braza Bank accounts and receive stablecoins at a 1:1 ratio; redemptions burn tokens against fiat payouts. Issuance and lifecycle management run on the XRP Ledger. Revenue is generated through FX and payment flows across the Braza Bank / Braza On / Braza UK rails.

Braza issues two regulated stablecoins natively on the XRP Ledger: BBRL pegged 1:1 to the Brazilian Real and USDB pegged 1:1 to the U.S. Dollar. Both are fully backed by reserves at Braza Bank and used primarily for cross-border payments, FX settlement, and access to USD-denominated savings in Latin America. BBRL processed over $1B in payments in Q3 2025.

Braza Group is a Brazilian financial services group operating Braza Bank S.A. (Banco de Cambio, authorized by the Central Bank of Brazil), the Braza On digital multicurrency account, and Braza UK (FCA-regulated EMI in London). The group has 15+ years of operating history and ranks 6th in Brazil's interbank FX market per BACEN.

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Stablecoin issuers

Braza

Braza BBRL (BBRL) is a Brazilian Real stablecoin issued by Braza through Braza Crypto.

Each token is a direct claim on the issuer.

Custody of the reserves rests with Braza Bank Banco de Câmbio S.A.

Retail investors and institutions can mint and redeem directly with Braza in BRL after completing KYC.

BBRL has been issued on XRP Ledger as a XRPL issued currency token since September 2024.

Braza BBRLBBRL