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Ripple partners with Brazilian exchange Mercado Bitcoin to enhance enterprise cross-border payments.

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Ripple partners with Brazilian exchange Mercado Bitcoin to enhance enterprise cross-border payments.

Ripple recently announced a partnership with Mercado Bitcoin, one of the largest cryptocurrency exchanges in Brazil. The focus of this collaboration is to utilize Ripple's "end-to-end managed payment solution" to help local businesses conduct international payment settlements faster, cheaper, and operate 24/7.

Optimizing Enterprise Internal Fund Utilization and Improving Overseas User Payment Experience

Ripple announced that Mercado Bitcoin will utilize a new solution to optimize the fund management process between Mercado's branches in Brazil and Portugal. In the future, Mercado plans to expand this solution to enterprise and retail users to assist them in international payments.

One highlight of the solution is the use of "overseas users," allowing users to directly make payments using the Brazilian currency Reais. This design simplifies the payment process, especially in cross-border transactions, significantly enhancing the user's payment experience.

The new Ripple solution offers the following advantages for Brazilian enterprises:

  • Security and Compliance

  • Simplified Operational Processes: The new payment solution allows local businesses to quickly integrate into their existing operations, reducing operational friction.

  • Assisting Local Businesses to Connect Globally: Local businesses only need to integrate with the new solution once to access over 80 different markets.

  • Continuous 24/7 Liquidity: Enterprises can access the necessary funds at any time and place for efficient and timely transactions.

  • The new solution is not only applicable to local enterprises but also extends to the retail industry.

  • Simplified Operational Processes: The new payment solution enables local businesses to quickly integrate into their existing operations, reducing operational friction.

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