Mercado Bitcoin (MB), Brazil’s largest cryptocurrency exchange, is undergoing a major transformation as it moves beyond its roots in digital asset trading to position itself as a comprehensive financial super app. The company aims to integrate blockchain technology seamlessly into mainstream financial services such as digital fixed income, payments, and remittances, while deliberately avoiding the use of complex crypto-related terminology.
During a discussion at the DAC Conference 2025, Daniel Cunha, Head of Corporate Development at Mercado Bitcoin, explained that the firm’s vision is to become the primary platform through which Brazilians manage their entire financial lives. Rather than spotlighting token markets or trading interfaces, MB now prioritizes what it calls an “invisible blockchain” approach — technology that operates behind the scenes to support financial products without requiring users to directly engage with tokens or technical processes. Cunha emphasized that the true technological revolution occurs when the underlying protocol fades into the background and the user experience becomes indistinguishable from traditional finance.
Language Shift Fuels Wider Adoption
In pursuit of broader adoption, Mercado Bitcoin has redefined its communication strategy by eliminating technical jargon. The company has replaced the term “tokenization” with the more approachable phrase “digital fixed income.” This linguistic shift, according to Cunha, has significantly improved user engagement and accessibility. The firm expects to exceed $560 million in tokenized credit by the end of the year, with real-world assets (RWAs) already accounting for roughly one-fifth of the total assets under its custody.
The company’s revenue model has evolved in tandem with this strategic shift. While trading once generated about 95% of Mercado Bitcoin’s income, it now represents around 60% as the firm diversifies into new segments such as asset custody, tokenized investments, and digital payments. By the end of 2025, MB anticipates that trading will make up less than 30% of its overall revenue mix. In parallel, the company plans to extend its reach beyond Brazil by expanding into Portugal and the United States. This move is designed to connect global investors with Brazil’s growing market for tokenized credit and to establish the company as a gateway for cross-border blockchain finance.
Aligning with Global Fintech Trends
The company’s strategic pivot aligns with a broader shift across the fintech sector, where major players are increasingly embedding blockchain functionality within traditional financial systems. This trend mirrors efforts by firms like Coinbase and Revolut, which are blending regulated financial products with decentralized infrastructure while minimizing technical complexity for end users.
No palco do DAC 2025, @GuiAmadoGomes, da @ORANJEBTC falou sobre a visão da empresa para a América Latina.
Ele resumiu a missão da empresa com uma declaração clara:
"We want to build the largest treasury company in the region. We'll do a lot of Bitcoin education as well."… pic.twitter.com/cZ3qU0eMwO
— Mercado Bitcoin (@MercadoBitcoin) September 23, 2025
Ripple Partnership Strengthens RWA Vision
A key milestone in Mercado Bitcoin’s transformation has been its strategic collaboration with Ripple. Under this partnership, the company plans to migrate more than $200 million worth of tokenized financial instruments — including fixed- and equity-income products — onto the XRP Ledger (XRPL). This initiative represents one of Latin America’s most significant real-world asset projects and positions XRPL as a trusted infrastructure for issuing and managing regulated financial assets.
Silvio Pegado, Ripple’s Head of Latin America, stated that this integration reflects a growing institutional confidence in public blockchain networks. The adoption of XRPL by MB demonstrates how blockchain can now support cost-efficient, compliant financial products suitable for mainstream use. In this model, end users interact with familiar financial products such as fixed-income instruments, while blockchain technology works in the background to ensure transparency, security, and efficiency.
Through this evolution, Mercado Bitcoin is signaling its commitment to reshaping the future of financial services in Brazil. By concealing blockchain complexity beneath user-friendly financial experiences, the company is charting a path toward mass adoption of decentralized infrastructure within traditional finance.
