After a dozen years operating as a digital currency exchange, Mercado Bitcoin is evolving into something much broader.
The São Paulo-based company is shifting its focus away from simply tracking cryptocurrency values and matching buyers and sellers. Now, discussions center on Brazil’s innovative PIX payment system, digitally-managed fixed income investments, and smoother international money transfers.
According to Daniel Cunha, head of corporate development at Mercado Bitcoin, the company envisions itself as the go-to app for Brazilians managing all aspects of their financial lives. He shared this vision at the DAC 2025 conference, suggesting the firm aims to be a comprehensive “super app” for spending, saving, and investment.
However, the “super app” label might not fully encapsulate their strategy. Company leaders prefer to describe their platform as a financial center that intelligently bridges the gap between traditional finance and blockchain technologies. This allows users to benefit from both without needing in-depth knowledge of either.
“The real transformation occurs when the underlying technology fades into the background,” Cunha explained. “Customers aren’t necessarily concerned with the intricacies of blockchains or tokens. Their primary interest lies in understanding the interest rate, the associated risk, and the investment’s maturity date,” he noted, specifically referencing their offerings in tokenized fixed income products.
This philosophy has profoundly influenced how Mercado Bitcoin presents itself to its user base. They now prioritize highlighting the specific features of their platform, rather than relying on jargon familiar only to those deeply involved in the crypto world. A significant change has been the complete removal of the term “tokenization” from all customer-facing communications, according to Cunha.
“We experimented with numerous variations in our messaging,” Cunha revealed. “We saw a notable increase in engagement once we transitioned from using the term ‘token’ to explaining things as ‘digital fixed income’.” The objective is to deliver a product powered by blockchain on the back-end, while maintaining a user interface and language that is easily understood by the general public.
Essentially, Mercado Bitcoin is wagering that “invisible blockchain” is the next evolution in financial technology.
“We anticipate that many individuals will soon be using blockchain technology without even realizing it,” Mercado Bitcoin stated. “That’s the key indicator that a true technological revolution has taken place.”
The company’s primary blockchain-based investment products are focused on tokenized private credit, a sector they believe is underserved and has significant potential for disruption in the Brazilian market.
Brazil is a global leader in cryptocurrency adoption by individual users, ranking among the top five countries according to Chainalysis’ Global Crypto Adoption Index. Mercado Bitcoin is positioning itself to address a prevalent challenge in the country by offering a remittance service based on stablecoins.
Despite the many new initiatives, cryptocurrency trading remains Mercado Bitcoin’s core revenue source. However, this is changing.
At its peak, trading activities contributed 95% of the company’s revenue. Currently, that figure is closer to 60%, with the remaining portion originating from payments, custody services, tokenized investments, and asset management. The company anticipates that trading will account for less than 30% of total revenue over time, according to Cunha.