Mercado Bitcoin and Ripple partner to tokenize $200M in assets on XRP Ledger, enhancing global access to Brazil’s markets.
To broaden the former’s global reach, Mercado Bitcoin has once again formed a partnership with the crypto firm Ripple. This time, the crypto trading platform intends to tokenize $200 million in real-world assets (RWAs) on the XRP Ledger (XRPL), which could also increase network activity.
Mercado Bitcoin Utilizes the XRP Ledger Linked to Ripple for Tokenization Bid
In a press release, the Brazilian digital asset exchange disclosed its intention to tokenize over $200 million in pre-issued real-world assets on the XRP Ledger. Fixed-income and equity-income instruments will comprise these assets.
The crypto exchange observed that this initiative, with Ripple, is one of the most significant tokenization initiatives by a Latin American institution on the XRPL. It also represents a strategic shift in Mercado Bitcoin’s international expansion, to enhance global liquidity and access to regulated digital products in South America and Europe.
This action is implemented within one month after Ondo Finance implemented its tokenized US Treasury fund (OUSG) on the XRPL. Guggenheim implemented its Digital Commercial Paper on the network at approximately the same time.
The integration of these RWAs onto the network is supported by Ripple, a significant contributor to the XRPL, as shown in the Brazilian exchange notes. The exchange has previously collaborated with the crypto firm to facilitate cross-border treasury transfers between Brazil and Portugal by utilizing the firm’s payment solutions.
The firm’s RLUSD stablecoin has already been listed on Mercado Bitcoin. The exchange was the initial customer to grant access to Ripple’s payment service in Brazil.
Silvio Pegado, Ripple’s Managing Director of LATAM, commented on the decision to tokenize these RWAs, stating,
Mercado Bitcoin’s integration with the XRPL shows how public blockchain infrastructure is being trusted by institutions and is becoming a reliable foundation for bringing regulated financial products to the market.
Pegado also observed that the XRPL provides the infrastructure necessary to bring these assets on-chain in a manner that aligns with institutional expectations regarding cost, efficiency, and compliance.
