Crypto Chat, News Ripple and Mercado Bitcoin Join Forces for Faster Cross-Border Payments in Brazil

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Ripple and Mercado Bitcoin Join Forces for Faster Cross-Border Payments in Brazil

Ripple, the global blockchain payments firm, has made a strategic move in Brazil by teaming up with Mercado Bitcoin. This collaboration aims to revolutionize cross-border transactions using the power of blockchain technology.

Initially, Mercado Bitcoin will employ Ripple's cutting-edge payment platform for its internal treasury operations between Brazil and Portugal. This trial run will help gauge the system's efficiency before expanding its usage to cater to a wider audience.

With plans to eventually offer Ripple's solution to corporate and retail clients, this partnership could be a game-changer for businesses seeking faster and more cost-effective options for their international transfers.

Latin America, especially Brazil, has become a focal point for Ripple's regional growth strategy. Since establishing its first office in Brazil in 2019, Ripple has been actively working on bolstering the digital payments infrastructure in the region.

Jordan Abud, Head of Banking at Mercado Bitcoin, expressed excitement about simplifying cross-border operations and reducing costs through this collaboration with Ripple. The goal is to provide customers with a comprehensive platform that meets their evolving needs.

While the product is currently limited to institutional operations between Mercado Bitcoin and its Portuguese branch, this partnership holds great promise for individuals and businesses eagerly awaiting easier and more efficient cross-border payments in Brazil.