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Highlights
- Mercado Bitcoin will tokenized over $200 million worth of permissioned real-world assets on the XRP Ledger.
- Ripple will help facilitate the move to tokenize these RWAs on the network.
- Ripple and Mercado Bitcoin are already partners, as the exchange uses the crypto firm's payment services.
Mercado Bitcoin and crypto firm Ripple have again partnered to expand the former’s global access. This time, the crypto trading platform plans to tokenize $200 million worth of real-world assets (RWAs) on the XRP Ledger (XRPL), a move which could also boost activity on the network.
Mercado Bitcoin Taps Ripple-Linked XRP Ledger For Tokenization Bid
In a press release, the Brazilian digital asset exchange announced plans to tokenize over $200 million in premissioned real-world assets on the XRP Ledger. These assets will include fixed-income and equity-income instruments.
The crypto exchange noted that this initiative, with Ripple, is one of the largest tokenization efforts by a Latin American institution on the XRPL. It also marks a strategic move in Mercado Bitcoin’s international expansion to increase global liquidity and access to regulated digital products across South America and Europe.
This move comes just under a month after Ondo Finance launched its tokenized US Treasury fund (OUSG) on the XRPL. Guggenheim also launched its Digital Commercial Paper on the network around the same time.
The Brazilian exchange noted that Ripple, a key contributor to the XRPL, is supporting the integration of these RWAs onto the network. Both firms have already partnered in the past, as the exchange used the crypto firm’s payments solutions to facilitate cross-border treasury flows between Brazil and Portugal.
Mercado Bitcoin has also already listed the firm’s RLUSD stablecoin on its exchange. The exchange was the first client to enable access for Ripple’s payment service in Brazil.
Commenting on the move to tokenize these RWAs, Ripple’s Managing Director, LATAM, Silvio Pegado, said,
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 further remarked that the XRPL offers the kind of infrastructure that now makes it possible to bring these assets on-chain in a way that meets institutional expectations for cost, speed, and compliance.
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