Mercado Bitcoin Partners with Ripple to Streamline International Transfers

   Ripple, a leading digital asset infrastructure provider, has launched Ripple Payments in Brazil. Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, will be the first Brazilian customer to use this solution. The service enables businesses to leverage blockchain for faster, cheaper, and more efficient cross-border transactions. Customers can transfer funds globally 24/7, 365 days a year, with payments completed within minutes. This development builds on features introduced last year, allowing Ripple to manage payments end-to-end for its clients. Mercado Bitcoin will use ripple payments to enhance transactions between Brazil and Portugal. In addition, the company plans to support international payments for its customers in the future. A key feature is the use of a non-resident account, allowing direct payments in Brazilian Reais. Brazil’s leading position in the cryptocurrency market made it ideal for Ripple Payments’ expansion. Ripple opened a local office in Brazil in 2019 and launched its first crypto-enabled payment solution with Travelex Bank in 2022. Ripple Payments Expands in Brazil Ripple Payments offers Brazilian businesses trust, security, streamlined onboarding, global access through a single integration, and 24/7 liquidity in multiple currencies. It enables efficient transactions regardless of destination or time zone. Silvio Pegado, Managing Director of LATAM at Ripple, highlighted the solution’s ability to help crypto companies streamline operations and improve margins. Jordan Abud, Head of Banking at Mercado Bitcoin, expressed enthusiasm for the partnership. Ripple’s infrastructure positions it well to provide core services needed by financial institutions, including tokenization, storage, exchange, and transfer of digital assets. Ripple Payments covers over 80 payout markets, representing more than 90% of daily foreign exchange markets. The company has over ten years of experience in digital assets and holds more than 55 regulatory licenses across various jurisdictions. The first operation will be institutional, exclusively from Mercado Bitcoin to Mercado Bitcoin Portugal.