MBRL: Mercado Bitcoin Launches New Stablecoin Pegged to the Brazilian Real (BRL)

Mercado Bitcoin (MB), the largest digital asset platform in Latin America, introduced a new stablecoin called MBRL, which is pegged to the Brazilian Real (BRL) and launched on the TRON blockchain.

Mercado Bitcoin (MB), Latin America’s largest digital asset platform, has introduced a new stablecoin called MBRL. The stablecoin is pegged to the Brazilian Real (BRL) and has been launched on the TRON blockchain.

According to a press release shared with CryptoSlate, the stablecoin is designed to offer the stability of the Brazilian Real while leveraging the speed and efficiency of blockchain technology. Being a stablecoin, MBRL is known for minimal price fluctuations.

The stablecoin aims to provide reliable liquidity for users who want to buy, sell, or hold digital assets in Brazil, enabling transactions 24/7, including during weekends and holidays.

It is integrated into the TRON blockchain, which is known for its scalability, low fees, and fast transaction speeds. This integration will allow MBRL to be used on various decentralized finance (DeFi) platforms and dApps (decentralized applications), enhancing its versatility and usability.

Commenting on the development, Lucca Benedetti, Product Analyst at MB, said:

“The introduction of MBRL is a significant milestone for both MB and the growing crypto community in Brazil. The TRON blockchain has already seen widespread adoption in the region, making MBRL a natural fit for the local market.”

How MBRL works

Users can easily purchase MBRL on Mercado Bitcoin’s platform, either through the platform’s offer book or by depositing BRL (Brazilian Real).

Once the deposit is made, users will receive MBRL stablecoins almost instantly, ready to be used for transactions.

The management and custody of MBRL are handled by MB Pay, Mercado Bitcoin’s payment institution, ensuring a secure and reliable experience for users.

Brazil’s growing crypto market

Brazil has become a hotbed for cryptocurrency adoption in recent years. According to central bank data, Brazil’s net imports of crypto assets increased by 60.7% in the first nine months of 2024 compared to the previous year.

This surge is largely driven by the growing use of stablecoins, which now account for nearly 70% of all crypto transactions in the country.

Mercado Bitcoin is tapping into this trend with the launch of MBRL, which provides Brazilians with an easier and safer way to hold and transfer value in the crypto space.

The country’s crypto unicorn is already a leader in the region, with 4 million customers and a reputation for financial integrity and transparency.

It is worth noting that Brazil’s central bank has announced plans to regulate stablecoins by 2025, signaling that the country is taking steps to formalize its growing crypto market.

However, the central bank also noted that the rise of stablecoins in Brazil has been linked to concerns about tax evasion and illicit activities.

Growth of TRON

The TRON blockchain provides an open-source, layer-1 protocol that is used by millions of developers, institutions, and individuals worldwide. The network boasts over 271 million user accounts and a total transfer volume exceeding $14 trillion, per recent data.

TRON’s ecosystem has seen impressive growth, especially in Q3 2024, with protocol revenue hitting an all-time high of $151.2 million. This growth has been fueled by increasing on-chain activity, transaction volumes, and expanding user base.