On December 23, Injective announced via an X post that INJ, the native utility and governance token of its Layer – 1 blockchain, has been officially integrated into Mercado Bitcoin, Brazil’s largest cryptocurrency exchange.
This integration allows over 3 million Mercado Bitcoin customers to access the Injective ecosystem directly using fiat currencies like the Brazilian Real through the exchange’s fiat – to – crypto on – ramp. Users can now engage with Injective’s decentralized finance ecosystem, which holds over $43 million in total value locked, as per Defillama.
Following this development, the price of INJ saw a significant surge of approximately 15.6% on December 24. It rose from a 24 – hour low of $20.52 to $23.72 during the early trading hours.
Founded in 2013, Mercado Bitcoin has grown into a major cryptocurrency exchange in Latin America. It has been actively involved in enhancing financial accessibility in Brazil through strategic partnerships.
In October 2023, the platform partnered with Ripple, becoming the first to integrate Ripple Payments. This end – to – end solution offers faster, cheaper cross – border transactions, better security, and real – time liquidity optimization. It also supports direct payments in Brazilian Reais for both retail and corporate customers, streamlining treasury operations between Brazil and Portugal.
On December 17, Mercado Bitcoin became one of the first exchanges to list Ripple USD, Ripple’s dollar – pegged stablecoin. Furthermore, in May 2024, the exchange collaborated with Mastercard to enable live transaction capabilities across Latin American and European corridors.
Related topics:
Bitcoin Price Still Undervalued According to MVRV Indicator with Strong Fundamentals
Metaplanet’s Massive Bitcoin Bet: Acquires Nearly 620 BTC, Boosts Holdings
