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Ripple Partners with Mercado Bitcoin to Launch International Payment Solution in Brazil In a strategic move to expand its footprint in Latin America, Ripple has partnered with Mercado Bitcoin, one of Brazil’s largest cryptocurrency exchanges, to offer a new international payment solution, according to a report by CoinDesk. This collaboration aims to facilitate cross-border transactions using Brazilian Reais (BRL) for both corporate and retail customers, marking Ripple’s first business-focused initiative in Brazil. The partnership is expected to streamline treasury operations between Brazil and Portugal, allowing businesses and consumers to benefit from faster, more efficient payments. By leveraging Ripple’s blockchain platform, Mercado Bitcoin aims to optimize liquidity and enhance operational efficiency for crypto businesses across these regions. Key Objectives of the Ripple-Mercado Bitcoin Partnership The partnership between Ripple and Mercado Bitcoin is designed to achieve several critical objectives: Facilitating Cross-Border Payments: With Ripple’s payment infrastructure, Brazilian Reais (BRL) can be seamlessly transferred between countries, offering corporate and retail customers a more efficient way to conduct international transactions. This is particularly beneficial for businesses and individuals with ties to both Brazil and Portugal, where treasury operations are often time-consuming and expensive. Optimizing Treasury Operations: Mercado Bitcoin will use Ripple’s platform to improve its treasury operations between Brazil and Portugal. By doing so, the exchange can streamline liquidity management and reduce the costs and delays typically associated with cross-border payments. Expanding Ripple’s Business Presence in Brazil: This partnership marks Ripple’s first business-focused customer in Brazil, signifying its growing presence in Latin America. Ripple’s platform is well-suited for emerging markets, where cross-border payments are often hindered by inefficiencies in traditional banking systems. Enhancing Liquidity for Crypto Businesses: With the support of Ripple’s platform, Mercado Bitcoin will be able to optimize liquidity for its operations, ensuring that it can better manage its digital assets while…

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Filed under: News - @ October 3, 2024 3:27 pm