[Delio] Brazil Widely Integrates Crypto-enabled Enterprise Payments

Ripple announced a collaboration with Travelex Bank, to be the first bank in Latin America to use On-Demand Liquidity (ODL), to introduce crypto-enable enterprise payments, while Mercado Libre plans to roll out its cryptocurrency in Brazil, crypto media channels Business Wire and CoinDesk reported on August 18.

The ODL solution provided by Ripple, the leading supplier of corporate blockchain and cryptocurrency solutions, enables users to send money across borders instantly with very low-cost settlement and without the need to hold pre-funded capital in the destination market, by utilizing XRP. CEO of Ripple emphasizes this collaboration as an opportunity for crypto and country-wide initiatives that promote fintech innovation while expanding the adoption of cryptocurrency worldwide.

To acknowledge, by integrating crypto services and crypto-enabled payments Brazil moves toward the crypto market expansion across Latin America.

In this regard, Mercado Libre aims at emerging Mercado coins which can open opportunities to make purchases on Mercado Libre products and receive it as cash back on purchases. By the end of August, the cryptocurrency will reach 80 million Brazilian customers. Mercado Coin will be initially traded at the price of 10 cents.

Source: BUSINESS WIRE, COINDESK

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