Founded in 2013, Mercado Bitcoin empowers people with the tools to trade cryptocurrency, digital assets, and other tokens online. They’re committed to democratizing the crypto economy and making cryptocurrency and other digital assets accessible to everyone.
And so far, they’re succeeding. Mercado Bitcoin is trusted by over 3.7 million customers and is recognized as one of the most secure exchanges worldwide. The company blends security and technology to provide users with more than 200 types of digital assets.
Cost Reduction: Significantly reduced asset issuance costs on the Stellar Network compared to Ethereum.
Successful Launch: Played a pivotal role in Mercado Bitcoin's launch of MBRL, Stellar's pioneering stablecoin from Brazil, driving remarkable growth within the ecosystem.
Mercado Bitcoin uses cutting-edge technology to give users unparalleled flexibility to trade digital assets. One of the many components of their operations was their “token factory,” which allowed people to issue assets on the Ethereum network.
However, Mercado Bitcoin wanted to set up a new token factory integrated with the Stellar Network. They wanted to create internal tools with easier asset issuance (just as their existing platform already did), but they also wanted to include asset management and lower fees for a more comprehensive setup.
The objective was to build a platform so simple that anyone, even people completely unfamiliar with Stellar and blockchain/cryptocurrencies, could issue and manage digital assets comfortably.
Mercado Bitcoin planned to use this new platform to issue and manage MBRL, the Real-backed stablecoin created by Mercado Bitcoin on Stellar. That was a major step for Mercado Bitcoin, and they needed to be able to introduce MBRL efficiently.Let's discuss your project
Mercado Bitcoin worked alongside Cheesecake Labs to help build their new token factory on Stellar. We started with a design similar to the Stellar Asset Sandbox, a no-code project that we created with the Stellar Development Foundation. Our team drew on this invaluable experience to provide expert project design to create a token factory made for the Stellar network.
Next came the front-end integration with Freighter using ReactJS. This made creating Stellar wallets easier and more secure, which is essential for users’ peace of mind.
Backend integration with the Stellar API was also vital to provide users with a secure product, since this integration does NOT have access to private wallet keys. Cheesecake Labs used Python/Django integrated with Horizon (Stellar’s API) to achieve this critical goal.
We needed to deliver custom functionalities that abstracted Stellar concepts, making them more user-friendly and approachable, even for novices. As a preferred Stellar Integration Partner, we were well suited to provide support for using Stellar and other Stellar platforms that enable users to visualize assets created directly on the blockchain.
Together, we helped Mercado Bitcoin create a token factor that made issuing assets on the Stellar network easy, with no need for in-depth knowledge about how the network operates. Plus, building the new token factory on Stellar makes each transaction much more affordable than using Ethereum.
The response to this project has been overwhelmingly positive, and media outlets have covered the project extensively, focusing on the launch of MBRL. From an in-depth piece in the Cointelegraph to coverage in Criptofacil, Crypto Times (part of Money Times), einvestitor, and more, we can’t wait to see the buzz that this fantastic project continues to generate.Talk to us about your project
Cheesecake Labs is our main partner in Latin America to support institutional partners issuing assets on Stellar. Their experience includes Stablecoin issuance, CBDC pilots, and Tokenized Assets on Stellar with a variety of regulated entities.