The Brazilian firm is embracing an 'invisible blockchain' strategy to become a 'super app' for finance, de-emphasizing crypto trading in favor of tokenized credit, payments, and other financial services.
Brazilian crypto exchange Mercado Bitcoin is pivoting its business model from a trading platform to a comprehensive 'financial hub.' According to its head of corporate development, the company aims to become a 'super app' by offering services like payments, digital fixed income, and remittances, using an 'invisible blockchain' strategy that avoids crypto-native terminology. Trading revenue has decreased from 95% to 60% of its total income and is projected to fall below 30%. The firm is focusing on tokenized investment products, aiming to surpass $560 million in tokenized credit issuance by year-end. Currently, tokenized real-world assets (RWAs) constitute 20% of assets under custody, while small and medium enterprises continue to use the platform for treasury management, holding 10-15% of custodied assets in Bitcoin and stablecoins.