Mercado Bitcoin, the largest crypto exchange in Latin America, has joined hands with Ripple to bring real-world assets (RWAs) onto blockchain. Earlier today, the company announced that it will move more than $200 million worth of financial products to the XRP Ledger (XRPL), Ripple’s public blockchain network.
According to the press release shared by Ripple, the assets will include fixed-income and equity-income instruments, which are mostly common in traditional banking. This makes it one of the biggest RWA projects ever undertaken on the XRP Ledger by a Latin American company.
Ripple, the company behind the XRP Ledger, is working closely with Mercado Bitcoin on the technical integration. The XRP Ledger will be the basis for getting these assets live. Ripple has built a reputation for creating infrastructure that supports fast, low-cost, and secure transactions.
“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. With the kind of infrastructure the XRPL offers, it’s now possible to bring these assets onchain in a way that meets institutional expectations for cost, speed, and compliance.” Silvio Pegado, Ripple’s head of Latin America, said in the press release.
The XRP Ledger, or XRPL, has been running since 2012. It has processed more than 3.3 billion transactions with no security breaches and supports over 200 validators worldwide. It is widely used by banks, companies, and developers around the world to move money and issue digital assets.
Mercado Bitcoin has already worked with Ripple in the past, using Ripple’s payment solutions to handle cross-border flows between Brazil and Portugal. The exchange was also the first in Brazil to list Ripple’s new RLUSD stablecoin, which is backed by U.S. dollars and designed for enterprise use.
Meanwhile, this latest project comes shortly after other firms like Ondo Finance and Guggenheim also launched tokenized financial products on the XRP Ledger. According to a report from Ripple and Boston Consulting Group, the market for tokenized real-world assets could grow from $0.6 trillion in 2025 to almost $19 trillion by 2033.
Also Read: Ripple Joins Tenity To Launch XRPL Accelerator in Singapore
