Mercado Bitcoin has introduced MBRL stablecoin linked to the value of Brazilian Real on the TRON blockchain.

Mercado Bitcoin (MB), an alternative asset trading platform in Latin America that supports Brazilian Real (BRL) pairs for the most popular crypto tokens, has launched its own stablecoin on the Tron network.

MBRL stablecoin is pegged to BRL and designed to facilitate seamless and cost-effective transactions within Brazil’s growing crypto ecosystem.

TRON network, a layer-1 open-source blockchain protocol with over 271 million user accounts, serves as a fast, accessible and scalable smart contract platform suitable for this purpose. It is known for its speed and cost-effectiveness, which makes the blockchain especially popular among retail users for frequent, low-value transactions like remittances, micropayments, and peer-to-peer (P2P) transfers.

“We are thrilled to see MRBL launch in the TRON ecosystem. The launch is a significant step forward in our mission to provide accessible, efficient, and scalable blockchain solutions globally, showcasing the versatility and robustness of the TRON network. I believe MRBL will play a key role in accelerating the adoption of blockchain technology across the region”.

Sam Elfarra, Community Spokesperson at TRON DAO

The new cryptocurrency will be easily integrated into blockchain wallets, DeFi platforms, and dApps to cater to numerous use cases, including cross-border payments, and public demands.

This development underscores the exchange’s commitment to expanding blockchain adoption and addressing the local demand for stable digital assets. By some estimations, Brazil ranks fifth globally in terms of the number of cryptocurrency owners. The crypto adoption here is rapidly growing. Reportedly,?Brazilians traded over BRL 247.8 billion (USD 43 billion) in crypto assets from January to September 2024 — 24% growth compared to the same period last year.

Pegging a stablecoin to the Brazilian real is a novel concept. However, it may be quite a good choice for local traders. The real has been the legal tender in Brazil since 1994 and is currently the strongest currency in Latin America. Despite some volatility recorded in the last decade, the currency has been valued at 4.84 – 5 per dollar for the last year and a half.

Earlier, Mercado Bitcoin joined the CBDC project in Brazil along with Mastercard and a few other participants.