Ripple has collaborated with Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, to launch its cross-border payment solution in Brazil, enabling faster transactions in Brazilian reais.
Ripple has expanded its global payments network by partnering with Mercado Bitcoin exchange, according to the official statement from Ripple on October 3. This partnership focuses on a blockchain-based cross-border payment solution in Brazil, to provide faster, more efficient and cost-effective international payment processing for businesses.
Despite its association with Ripple Labs, the price of the XRP cryptocurrency remains volatile in the face of world events. Source BNC XRP Liquid Index
According to the announcement, the service will initially support institutional clients, streamlining internal treasury operations between Mercado Bitcoin and Mercado Bitcoin Portugal. By taking advantage Ripple’s end-to-end payment solutionBusinesses will benefit from real-time settlement and access to more than 80 payment markets worldwide, enabling payments directly in Brazilian reais.
Silvio Pegado, Ripple’s general manager for Latin America, said the partnership aligns with Ripple’s vision of improving cross-border payments through collaboration with market leaders.
Strategic expansion in Latin America and beyond
This partnership is a key part of Ripple’s broader strategy to expand in Latin America, with Brazil a dominant crypto player in the region. With a crypto trading volume of 6 billion dollars in 2024Brazil leads the region in digital asset activity.
Despite its ongoing legal battles with the United States Securities and Exchange Commission (SEC), Ripple’s continued progress in Brazil complements its aggressive expansion globally, including recent approvals in the United Arab Emirates as part of its strategy in the Middle East. Ripple now holds 55 regulatory licenses, including with major financial centers like Singapore, New York and Ireland, positioning itself as a trusted provider of compliant cross-border payments solutions.
With 4 million customers and more than a decade of activity, the Mercado Bitcoin exchange has also established itself as a benchmark in blockchain services. Jordan Abud, Head of Banking at Mercado Bitcoin, said the partnership would reduce transaction costs and improve their platform services.
“…This partnership allows Mercado Bitcoin to take a new step towards the internationalization of its services.” Abud says: “The ability to make this type of operation easier, offer lower costs and make the platform even more comprehensive shows our commitment to customers while expanding the product portfolio we offer today.
Ripple’s Market Dominance
Launched in 2012, Ripple is a pioneer in enterprise blockchain and digital payments, providing solutions enabling real-time cross-border transactions. Ripple’s end-to-end payments solution allows businesses to access more than 80 global payment markets.
Ripple has partnered with central banks and financial institutions around the world, processing $50 billion annually. In 2024, Ripple transformed its payments platform, formerly RippleNet, to make it easier for businesses to adopt crypto.
With cross-border payment revenue expected to reach $280 trillion by 2030, Ripple is positioning itself to capture a substantial share of this market.
