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- Ripple and Mercado Bitcoin partner to streamline international payments in Brazil, enhancing cross-border treasury operations.
- Ripple expands its Latin American presence through Mercado Bitcoin, aiming to simplify cross-border payments for businesses.
By means of a strategic alliance with one of Brazil’s biggest cryptocurrency exchanges, Mercado Bitcoin, Ripple has strengthened its footprint in Latin America.
Using Ripple’s payment system, Mercado Bitcoin will be the first Brazilian company, especially with an eye toward improving internal treasury processes between Brazil and Portugal.
BREAKING: @Ripple HAS PARTNERED WITH @MercadoBitcoin TO LAUNCH AN INTERNATIONAL PAYMENT SOLUTION IN BRAZIL
— BSCN Headlines (@BSCNheadlines) October 3, 2024
Ripple Strategic Expansion in Brazil’s Growing Crypto Market
The cooperation coincides with a period of fast expansion in the crypto market of Brazil. Known for offering real-time settlement and liquidity solutions, Ripple’s digital infrastructure fits quite well in the framework of Brazil’s dynamic crypto policy scene.
The cooperation between Mercado Bitcoin and Ripple is expected to speed up and make more reasonably priced international payments. This lets companies quickly onboard and fast access over 80 worldwide marketplaces by integrating Ripple’s technology with minimum friction.
For Ripple, this alliance marks yet another phase of its continuous expansion over Latin America. Since 2019, when it first established local offices, the corporation has been progressively becoming more visible in Brazil.
Working with Travellex Bank, Ripple unveiled its On-Demand Liquidity (ODL) service in Brazil in 2022, enabling Brazilian companies to make flawless, international payments with cryptocurrency.
By means of this new partnership, Mercado Bitcoin will also be able to use the global scale and liquidity of Ripple, providing improved payment options for its clients.
Head of banking at Mercado Bitcoin Jordan Abud showed enthusiasm about this alliance and underlined how it would help the global aspirations of the exchange. By means of Ripple’s sophisticated payment system, Mercado Bitcoin seeks to lower running expenses and provide a more all-inclusive platform for its customers.
On the other hand, as we previously highlighted, SCB, another Ripple partner, just collaborated with Thunes to increase its instant remittance capabilities.
By means of its SCB Easy platform, this cooperation enables SCB to provide money transfers across 26 countries with support for 17 currencies. Using RippleNet for cross-border payments guarantees that SCB makes transparent and safe transactions rather than merely quick ones.