In a significant move, Injective (INJ) has officially partnered with Mercado Bitcoin, Latin America’s oldest cryptocurrency exchange.
This integration is poised to open doors to decentralized finance (DeFi) for over three million Mercado Bitcoin users. This move is set to offer a seamless getaway from fiat currencies like the Brazilian Real into the world of Injective’s advanced ecosystem.
Injective’s Impact: Simplifying Access to DeFi
Mercado Bitcoin users can bridge the gap between traditional finance and blockchain technology through this integration. With a fiat-to-crypto on-ramp, Brazilians can participate in Injective’s ecosystem. The ecosystem already boasts over $43 million in Total Value Locked (TVL), according to Defillama.
This development eliminates barriers that often deter newcomers from engaging with DeFi. The integration will offer a streamlined way to invest and interact with innovative financial tools. This announcement, revealed in an X post, has already sparked excitement in the market.
Earlier today, INJ prices soared by 15.6%, climbing from a 24-hour low of $20.52 to $23.72 as per market data. This surge reflects the optimism surrounding Injective’s expanding footprint in Latin America.
Mercado Bitcoin: A Pioneer in Financial Innovation
Since its founding in 2013, Mercado Bitcoin has grown into one of Latin America’s largest crypto exchanges, breaking new ground in the industry. It has prioritized financial accessibility and forged strong partnerships with leading blockchain companies.
Mercado Bitcoin became the first exchange to integrate Ripple Payments in October, providing faster, cheaper, and more secure cross-border transactions. The move also streamlined treasury operations and allowed direct payments in Brazilian Reais. It enhanced accessibility for retail and corporate users alike.
The exchange recently solidified its reputation by listing Ripple’s dollar-pegged stablecoin, Ripple USD. This move offered traders on the platform more options for digital asset management. This addition is part of the exchange’s efforts to diversify its offerings and cater to both retail and corporate clients.
Mercado Bitcoin isn’t just leading within Latin America; its global partnerships speak volumes. In May 2024, it joined forces with Mastercard to enable live transactions across Latin American and European corridors, a collaboration that underscored the exchange’s commitment to creating a global financial network.
Global Aspirations with Local Impact
Mercado Bitcoin’s partnerships have extended beyond Latin America. This year, the exchange collaborated with Mastercard, enabling live transactions across Latin America and European corridors. This collaboration shows its ambition to create a truly global financial network while addressing local needs.
The Injective integration supports Mercado Bitcoin’s mission to make financial tools accessible to everyone. It goes beyond introducing DeFi to the public, aiming to empower everyday users with tools once reserved for institutions.
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