Mercado Bitcoin Teams Up with Ripple for Cross-Border Payments

Ripple has partnered with Mercado Bitcoin, Brazil's largest cryptocurrency exchange, to launch Ripple Payments, a managed end-to-end payments solution aimed at enhancing cross-border transactions. 

This collaboration will allow Mercado Bitcoin to improve its internal treasury operations between Brazil and Portugal while enabling customers to conduct international payments in Brazilian Reais.

The partnership is part of Ripple's strategy to expand its presence in Latin America, leveraging the region's growing cryptocurrency market. Ripple Payments promises faster, cheaper, and more secure transactions, allowing businesses to access over 80 global payout markets through a single integration.

Jordan Abud, head of banking at Mercado Bitcoin, expressed excitement about the partnership, emphasizing its potential to lower operational costs and broaden service offerings. Silvio Pegado, Ripple’s managing director for Latin America, highlighted the unique capabilities of Ripple Payments in optimizing liquidity for crypto businesses. 

This initiative marks a significant step in the ongoing digital transformation of financial services in Brazil and the broader Latin American region.