Key Points
- Mercado Bitcoin, Brazil’s largest crypto exchange, has integrated Injective’s native token, INJ.
- The integration enables over 3 million customers to directly engage with Injective’s decentralized finance ecosystem.
Brazil’s leading cryptocurrency exchange, Mercado Bitcoin, has successfully integrated INJ, the native token of the Layer-1 Injective blockchain.
This announcement was made by Injective on December 23, confirming that INJ, the utility and governance token of the Layer-1 Injective blockchain, is now officially a part of the oldest cryptocurrency exchange in Latin America.
Impact of the Integration
The integration will provide Mercado Bitcoin’s 3 million customers with direct access to the Injective ecosystem. They can use fiat currencies such as the Brazilian Real to engage with Injective’s decentralized finance ecosystem, which currently holds more than $43 million in total value.
Following this development, INJ’s price saw a significant surge, increasing by approximately 15.6% from a 24-hour low of $20.52 to $23.72 during the early trading hours of December 24.
Mercado Bitcoin’s Growth and Partnerships
Established in 2013, Mercado Bitcoin has evolved into one of the largest cryptocurrency exchanges in Latin America. It has been actively working to enhance financial accessibility in Brazil through strategic collaborations with leading blockchain projects.
On October 3, the platform announced a partnership with blockchain payments firm Ripple, making it the first business to integrate Ripple Payments. This solution offers businesses and users faster and cheaper cross-border transactions, improved 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 between Brazil and Portugal.
Mercado Bitcoin also listed Ripple USD (RLUSD), Ripple’s dollar-pegged stablecoin, on December 17, becoming one of the first exchanges to do so.
In addition, the exchange has formed significant 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.
