Ripple and Mercado Bitcoin Will Make Crypto Payments Available in Brazil

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Ripple has teamed up with a major cryptocurrency exchange in Brazil to launch cross-border payments fueled by cryptocurrency.

This collaboration with Mercado Bitcoin will enable local businesses to utilize Ripple’s end-to-end payment solution to settle transactions.

This partnership, announced officially on October 3, will allow businesses in Brazil to complete cross-border payments 24/7 in a faster, cheaper, and more efficient manner.

Currently, the product is not available to customers, but it is expected to be initially used by institutional clients from Mercado Bitcoin to Mercado Bitcoin Portugal.

Once released, businesses will be able to settle payments within minutes using this new payment tool.