Mercado Bitcoin, a leading Brazilian crypto exchange, will be Ripple’s first client in Brazil. The exchange will use the Ripple platform to improve domestic treasury operations between Brazil and Portugal.

Ripple introduced its on-demand liquidity (ODL) service to Brazil in August 2022 in partnership with Travelex Bank.

The partnership aims to support cross-border payments for corporate and retail clients by allowing users to transact in Brazilian reals.

Ripple Payments offers unique capabilities for crypto businesses, including liquidity optimization and margin improvement through real-time settlement.

Head of Banking at Mercado Bitcoin, Jordan Aboud, noted that the partnership with Ripple allows the exchange to take a step toward internationalizing its services.