The electronic commerce company, Mercado Libre has announced to include crypto commerce in all of Latin America in its services, as revealed by the company to the Spanish newspaper El País this Wednesday, August 10, 2022.
The largest e-commerce company in Latin America by market value, pointed out that the user will be able to buy and sell digital assets directly from their Mercado Pago digital wallet, through the Paxos blockchain platform thus managing to include digital currency transactions in its payment portfolio.
After the great success that the company had with this innovation in Brazil at the beginning of December 2022, Mercado Libre plans to expand this option to the rest of the region, with which users will be able to buy and sell bitcoin, ethereum and the stablecoin USDP, the Paxos stablecoin that is pegged to the US dollar.
“We will be expanding in the region the possibility of buying, selling and holding cryptocurrencies in your account,” Mercado Libre’s fintech vertical director, Osvaldo Giménez, told the Spanish newspaper El País.
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Although this is just the beginning of a new era of electronic business, Mercado Libre also announced that in the past months it has managed to buy a total of USD 7.8 million in bitcoins for its treasury.
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In January this year, the company announced an investment in 2TM, the holding company of Brazil’s largest cryptocurrency exchange Mercado Bitcoin, and blockchain infrastructure company Paxos.
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