Mercado Bitcoin, a leading Brazilian cryptocurrency exchange, is set to become the first client of Ripple's innovative payment solution in Brazil, aimed at enhancing internal treasury operations between Brazil and Portugal.

Ripple debuted its crypto on-demand liquidity service in Brazil back in August 2022, in coordination with Travelex Bank.

Ripple provides a robust digital asset infrastructure and is collaborating with Mercado Bitcoin to offer an end-to-end managed payments solution for businesses. This partnership will enable Mercado Bitcoin to facilitate international payments seamlessly, allowing transactions to be conducted with Brazilian Reais.

“Ripple Payments offers unique capabilities that are important to crypto businesses enabling them to streamline operations, optimize liquidity, and ultimately improve margins through real-time payment settlement,” said Silvio Pegado, Ripple’s managing director for Latin America.

Jordan Abud, head of banking at Mercado Bitcoin, remarked, “This partnership with Ripple enables Mercado Bitcoin to take another step towards internationalizing its services.”

Brazil is a familiar market for Ripple, who established its local offices in 2019. In a statement from September, Ripple Labs CEO Brad Garlinghouse indicated that the company's U.S.-dollar-pegged stablecoin, Ripple USD (RLUSD), was nearing release, expected imminently in 'weeks, not months.'