Ripple Partners with Mercado Bitcoin to Drive Cross-Border Payments in Brazil’s Growing Crypto Market

Ripple has collaborated with Mercado Bitcoin, Latin America’s largest crypto 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 03. This partnership focuses on a blockchain-based cross-border payments solution in Brazil, to provide faster, more efficient, and cost-effective international payment processing for businesses.

Despite its association with Ripple Labs, the XRP cryptocurrency price remains volatile in the face of world events. Source BNC XRP Liquid Index

According to the announcement, the service will support institutional clients at the start, streamlining internal treasury operations between Mercado Bitcoin and Mercado Bitcoin Portugal. By leveraging Ripple’s end-to-end payments solution, businesses will benefit from real-time settlement and access to more than 80 payout markets worldwide, which will allow payments directly in Brazilian Reais.

Silvio Pegado, Ripple’s Managing Director for Latin America, said that the partnership aligns with Ripple’s vision of enhancing 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 across Latin America, with Brazil, a dominant crypto player in the region. With a crypto trading volume of $6 billion in 2024, Brazil leads the region in digital asset activity. 

Despite its ongoing legal battles with the U.S. Securities and Exchange Commission (SEC), Ripple’s continued push into Brazil complements its aggressive expansion globally, including recent approvals in the UAE as part of its Middle East strategy. Ripple now holds 55 regulatory licences, including from major financial hubs like Singapore, New York, and Ireland, positioning itself as a trusted provider of compliant cross-border payments solutions.

With 4 million customers and over a decade of operations, the Mercado Bitcoin exchange has also cemented itself as a benchmark in blockchain services. Jordan Abud, Head of Banking at Mercado Bitcoin, stated that the partnership would reduce transaction costs and enhance their platform’s services. 

“…  This partnership enables Mercado Bitcoin to take another step towards internationalising its services.” Abud says, “The possibility of facilitating this type of operation, offering lower costs, and making the platform even more complete shows our commitment to customers while expanding the portfolio of products we offer today.”

Ripple’s Market Dominance

Launched in 2012, Ripple is a pioneer in enterprise blockchain and digital payments, providing solutions that enable real-time cross-border transactions. Ripple’s end-to-end payments solution supports businesses with access to over 80 global payout markets.

Ripple has established partnerships with central banks and financial institutions across the globe, processing $50 billion annually. In 2024, Ripple transformed its payments platform, formerly RippleNet, to unlock enterprise crypto adoption.

With cross-border payment revenues projected to hit $280 trillion by 2030, Ripple is positioning itself to capture a substantial share of this market.