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Ripple and Mercado Bitcoin team up to offer business payments solution
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Digital asset infrastructure provider Ripple has announced a partnership with Brazilian exchange Mercado Bitcoin to offer its end-to-end managed payments solution. According to a statement, Mercado Bitcoin will use the service to optimize its internal treasury operations between Brazil and Portugal.
Additionally, the partnership aims to support international payments for corporate and retail customers, allowing transactions in Brazilian Reais.
Mercado Bitcoin will be the first customer of Ripple’s business payment solution in Brazil. The partnership marks an important step towards the internationalization of the exchange’s services, as highlighted by Jordan Abud, the company’s head of banking.
“The partnership with Ripple allows Mercado Bitcoin to advance on its journey of internationalizing services,” stated Abud.
Ripple and Mercado Bitcoin enter into partnership
The Ripple Payments solution offers innovative features for cryptocurrency businesses, such as the ability to simplify operations, optimize liquidity, and improve margins through real-time payment settlement. According to Silvio Pegado, managing director of Ripple for Latin America, the service has unique capabilities, which are fundamental for businesses in the cryptoactive sector.
Ripple already has an established relationship with Brazil. In 2019, the company opened offices in the country. Then, in August 2022, it launched its on-demand liquidity (ODL) service in partnership with Travelex Bank, facilitating the movement of resources through crypto assets. This continued expansion in Brazil reflects the importance of the Latin American market for Ripple.
Amid this expansion, Ripple is also moving forward with other projects. In September 2023, Ripple Labs CEO Brad Garlinghouse revealed that the company’s stablecoin, Ripple USD (RLUSD), pegged to the US dollar, is close to launch. Garlinghouse commented that the coin’s launch should take place in a matter of weeks.
Ripple and Mercado Bitcoin team up to offer business payments solution
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Ripple and Mercado Bitcoin team up to offer business payments solution
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Ripple and Mercado Bitcoin team up to offer business payments solution
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Ripple and Mercado Bitcoin team up to offer business payments solution