Cross-border payment giant Ripple has officially expanded into Brazil with its new Mercado Bitcoin partnership. Indeed, the film announced that its Ripple Payments solution is set to broaden its reach to the South American nation through its new collaboration with the aforementioned crypto exchanges.
Ripple has continuously sought to expand its footprint throughout the globe. Despite its ongoing regulatory scrutiny in the United States—emphasized by the US Securities and Exchange Commission’s (SEC) recent appeal—it has recently expanded to the United Arab Emirates (UAE), and now Brazil.
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Ripple Payments Partners With Brazil’s Largest Crypto Exchange
There are few companies in the digital asset sector with as much promise as Ripple. The firm’s focus on cross-border payments has made it a key player in the future development of the industry. Moreover, its commitment to expansion has helped to widen its exposure to various countries and participating entities
That has continued Thursday. Indeed, Ripple announced it is expanding into Brazil following its recent partnership with Mercado Bitcoin. The company announced Thursday that the two sides would be set to “transform crypto-enabled cross-border payments” in the country.
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Mercado Bitcoin is currently the largest cryptocurrency exchange in Brazil. Moreover, they are now “the first customer in Brazil to utilize Ripple’s managed end-to-end payments solution,” the company stated in a press release. Indeed, the platform notes it is seen to use blockchain technology to make cross-border payments “faster, cheaper, more efficient,” and more secure.
“We’re thrilled to partner with Mercado Bitcoin, a market leader in crypto with more than a decade of experience,” Ripple Managing Director of LATAM, Silvio Pegado, said. Additionally, he highlighted Ripple Payments’ “unique capabilities,” for firms. Indeed, he noted its ability to improve real-time payment settlements in a plethora of ways.
