Ripple Partners with Mercado Bitcoin for Crypto Cross-Border Payments in Brazil
Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...
Ripple has launched its end-to-end payments solution in Brazil, partnering with Mercado Bitcoin to enhance cross-border transactions using blockchain technology.
According to a recent press release, Mercado Bitcoin will use the Ripple Payments platform to streamline cross-border payments between Brazil and Portugal.
Initially, Mercado Bitcoin will use Ripple Payments for internal treasury operations within the two countries. This use case will allow the exchange to test the system’s effectiveness before expanding its application.
Ripple's end-to-end payments solution is now live in Brazil!
Learn how our new partnership with @MercadoBitcoin will streamline treasury operations between Brazil & Portugal, boosting cross-border payment efficiency via Ripple’s managed payments solution.https://t.co/wQqHRkd9wf
The release stated that plans are in place to eventually offer Ripple’s solution for broader use, including supporting international payments for corporate and retail clients. The expansion would provide businesses a more efficient option for handling cross-border transfers.
Brazil’s increasing interest in digital payments and blockchain technology makes it a key market for Ripple, which opened its first office in the country in 2019. Since then, Ripple has focused on building infrastructure to support digital asset transactions within the region.
“The idea is to provide a simplified transfer through the expertise of Ripple, our international partner specializing in cross-border payments,” said Mercado Bitcoin Head of Banking Jordan
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