TechFlow news, October 6 — According to CoinDesk, Ripple, a digital asset infrastructure provider, announced a partnership with Brazilian cryptocurrency exchange Mercado Bitcoin to deliver end-to-end payment solutions for enterprises. Mercado Bitcoin will leverage Ripple’s services to optimize its internal fund operations between Brazil and Portugal, and provide international payment support for corporate and retail customers, enabling users to transact in Brazilian reais.
Silvio Pegado, Managing Director of Ripple Latin America, said the service will help crypto companies streamline operations, optimize liquidity, and improve profit margins. Ripple entered the Brazilian market in 2019 and launched its On-Demand Liquidity (ODL) service locally in August 2022. Additionally, Ripple Labs CEO Brad Garlinghouse recently revealed that the company's U.S. dollar-pegged stablecoin, Ripple USD (RLUSD), will be launched within weeks.
