- Ripple & Mercado Bitcoin Partner to Streamline International Payments in Brazil and Enhance Cross-Border Treasury Operations
- Ripple’s Latin American presence is expanded through Mercado Bitcoin. This simplifies cross-border transactions for businesses.
By way of an strategic alliance Ripple is expanding its presence in Latin America with Mercado BTC, the largest Brazilian cryptocurrency exchange.
Mercado Bitcoin, the first Brazilian firm to use Ripple’s payment system will do so with a view towards improving internal treasury between Brazil and Portugal.
BREAKING: @Ripple HAS BEEN PARTNERED with @MercadoBitcoin LAUNCH OF AN INTERNATIONAL FINANCE SOLUTION BRAZIL
— BSCN Headlines (@BSCNheadlines) October 3, 2024
Ripple expands in Brazil’s growing crypto market
This partnership coincides with the rapid expansion of Brazil’s crypto-market. It is well-known for providing real-time solutions and liquid settlements. Ripple’s Brazil’s crypto policy is dynamic and the digital infrastructure of Brazil fits in well with it.
This partnership between Mercado and Ripple should speed up the international payment process and lower its cost. Ripple’s technology enables companies to access 80 marketplaces worldwide quickly and easily.
This alliance is yet another step in Ripple’s expansion across Latin America. Ripple has steadily increased its visibility in Latin America since 2019, when the company first opened local offices. Brazil.
In 2022, Ripple, in collaboration with Travellex Bank in Brazil, launched its On-Demand Liquidity service (ODL), allowing Brazilian businesses to conduct flawless international transactions using cryptocurrency.
Through this new partnership, Mercado Bitcoin can also take advantage of the liquidity and global reach of Ripple to provide better options of payment for its clients.
The Head of Banking at Mercado BTC, Jordan Abud expressed excitement over this alliance. She also emphasized how the partnership would benefit the company’s global ambitions. Mercado Bitcoin wants to cut costs by using Ripple’s payment system and give its users a better platform.
Secondly, we also previously highlightedSCB – another Ripple member – has recently teamed up with Thunes for the purpose of increasing its instant remittance capability.
Through its SCB Easy Platform, the cooperation allows SCB money transfers to 26 countries in 17 different currencies. RippleNet ensures SCB’s cross-border transactions are transparent, safe and secure.
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Source: www.crypto-news-flash.com
