Mercado Bitcoin Collabs with Ripple to Tokenize $200M in RWAs on XRP Ledger

Mercado Bitcoin, a major digital asset exchange in Brazil, is expanding its global presence by partnering with Ripple, a company that provides blockchain solutions.

Additionally, the firms plan to create digital versions of over $200 million in real-world assets on the XRP Ledger, with the project expected to boost its international reach and increase activity on the XRP Ledger.

Mercado Bitcoin announced it will bring various types of tokenized assets, including bonds and stocks, to the XRP Ledger. This is a significant step for a Latin American financial company to tokenize assets on the XRP Ledger, aligning with Mercado Bitcoin’s goal to improve global access to money and regulated digital products.

The expansion will focus on South America and Europe, where Mercado Bitcoin wants to grow its business and offer its advanced digital asset services.

Mercado Bitcoin Partners Ripple

This news comes as the XRP Ledger is experiencing numerous new developments. Ondo Finance recently launched its tokenized U.S. Treasury fund on the ledger, and Guggenheim introduced its Digital Commercial Paper on the XRP Ledger.

These moves indicate that large companies are increasingly interested in utilizing the ledger for traditional financial assets. Mercado Bitcoin’s plan to tokenize a large amount of real-world assets further confirms that the XRP Ledger is a robust platform for creating digital representations of various types of assets.

Ripple, a key supporter and developer of the XRP Ledger, is helping Mercado Bitcoin integrate these real-world assets into the network. Mercado Bitcoin and Ripple have a strong existing relationship and have utilized Ripple’s payment services in the past to transfer money between Brazil and Portugal.

XRP Unlock Reaches 1 Billion

In other Ripple news, the firm’s escrow release of XRP in July drew significant attention, resulting in the distribution of 1 billion XRP tokens. First, 500 million XRP were released on July 1, followed by another 500 million XRP on July 4, completing Ripple’s planned distribution of 1 billion XRP for the month.

Whale Alert, a service tracking on-chain data, reported that Ripple released 500 million XRP tokens, valued at approximately $1.119 billion, from escrow to an unknown wallet. This release mirrored an earlier one of 500 million XRP.

Reports from early July indicated Ripple unlocked 500 million XRP in two separate transactions, returning 400 million XRP to escrow. Over the last 24 hours, the price of XRP has decreased by 2.78%, and trading volume has dropped by 28% to $3.12 billion. However, over the past month, XRP has increased by 6%.