Brazil’s largest crypto exchange Mercado Bitcoin integrates INJ

Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, has integrated INJ, the native token of the Layer-1 Injective blockchain.

According to a Dec. 23 X post from Injective, INJ, the native utility and governance token of the Layer-1 Injective blockchain, is now officially integrated into the oldest Latin American exchange.

The move will allow over 3 million Mercado Bitcoin customers to directly access the Injective ecosystem using fiat currencies like the Brazilian Real via its fiat to crypto on-ramp. As such, users will be able to engage with Injective’s decentralized finance ecosystem, which currently holds over $43 million in total value locked, according to Defillama.

Following the development, the price of INJ surged by approximately 15.6%, rising from a 24-hour low of $20.52 to $23.72 during the early trading hours on Dec. 24.

Founded in 2013, Mercado Bitcoin has grown into one of Latin America’s largest cryptocurrency exchanges and has been actively working to improve financial accessibility in Brazil through strategic collaborations with leading blockchain projects.

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On Oct. 3, the platform announced a partnership with blockchain payments firm Ripple, becoming the first business to integrate Ripple Payments.

This end-to-end solution empowers businesses and users with faster, cheaper cross-border transactions, enhanced security, and real-time liquidity optimization. The integration also supports direct payments in Brazilian Reais, catering to both retail and corporate customers while streamlining treasury operations for the exchange between Brazil and Portugal.

Mercado Bitcoin also became one of the first exchanges to list Ripple USD (RLUSD), Ripple’s dollar-pegged stablecoin, on Dec. 17.

Further, the exchange has forged notable partnerships with global payment giants like Mastercard. In May 2024, the exchange collaborated with Mastercard to enable live transaction capabilities across Latin American and European corridors.

Read more: VanEck-backed stablecoin AUSD debuts on Injective blockchain

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