Mercadolibre, a company that became an Argentine unicorn with a presence in more than a dozen Latin American countries, announced that it now offers the cryptocurrency purchase service in Mexico through its Mercado Pago payment application.
Recently The incorporation of this possibility in its portfolio of services was officially announced on the official Twitter account. available to the Mexican public.
There are no more excuses, get into crypto with #MarketPayment! 📲 pic.twitter.com/ugKvuXeYOL
– Mexico Payment Market (@MercadoPagoMex) October 27, 2022
Chainalysis data published on October 20, 2022 shows that Mexico ranks 28th in the ranking of the top 30 countries with crypto adoption from July 2021 to June 2022.
Countries such as Brazil, Argentina, Colombia and Ecuador (rank seventh (7), thirteenth (13), fifteenth (15) and eighteenth (18) respectively); they appear in the study above Mexico, but only one of them already has the new Mercado Pago service.
Brazil
Brazil, which is positioned in seventh place in the study, has started using this service to purchase three cryptocurrencies, namely: USDP, Bitcoin and Ethereum.
Marcos Galperin announced this in November 2021 on his official Twitter account, in which he indicated that the same week the purchase and sale of cryptocurrencies would be activated from the mobile application.
Starting this week in #Brazil the users of @MercadoLivre Y @marketpago they can buy, hold and sell crypto. https://t.co/1YkXpe1xqX pic.twitter.com/D6pbZbCdeV
– Marcos Galperin (@marcos_galperin) November 22, 2021
Marcos despite repeated statements in print and audiovisual media about the adoption of cryptocurrencies, demonstrated with this integration through Paxos that the crypto market is now part of its service portfolio.
Almost a year later the service arrives in Mexico, and despite the fact that many Argentines asked him on the social network Twitter to start those same services in the country where the unicorn was born, the reality is that until now there has been no response to the request. .
For its part, in Mexico, the option is already available for verified users of the application. The minimum purchase is one peso, so it is also an offer for the Mexican public, which has been growing in the adoption of cryptocurrencies.
Finder published interesting data on the use of cryptocurrencies in Mexico, highlighting the use of the two largest cryptocurrencies on the market, Bitcoin and Ethereum. Bitcoin has been adopted at 22% within the crypto community, followed by Ethereum at 14%.
This seems to be closely related to the step the company has taken, since its portfolio only includes these two currencies. The same metric indicates that The market for cryptocurrencies currently in Mexico is 12 million people, which points to a fairly large market to group in the company’s payment network.
There are other options for buying, selling and saving cryptocurrencies in the Inca country, but the reality is that MMercado Pago appears to be the only one with the option to purchase a minimum of one peso. Users who want to join the buying and selling of cryptocurrencies can do so with the balance they have in the payment wallet.
On the official Twitter account of the company in Mexico, screenshots of the operation of the application in the cryptocurrency interface were shown, demonstrating the ease and intuitiveness of the application.
I’m in everything and with everything 😎 have you bought yet? 📲🪙 https://t.co/lEc8X3roEi
– Mexico Payment Market (@MercadoPagoMex) October 28, 2022
So far it is unknown if it plans to extend the supply of cryptocurrencies in the country, and will follow in the footsteps of the South American giant, since in Brazil it is available in addition to Bitcoin and Ethereum, the stable currency USDP.
For now, the official information obtained through the Twitter portal is that the company has started with the two main currencies in the market.
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