mercadolibre to allow users to redeem cryptocurrencies from its platform

mercadolibre, one of the biggest online retailers in latin america, has started puffy cryptocurrency trading services to a selection of their customers and plans to expand this test in the coming weeks. mercadopago, the payments service held by the platform, will allow these customers to purchase, hold and sell cryptocurrencies directly from the platform. the accompany run will start in brasil and it might ends other countries later.

mercadolibre, the biggest latam-situated company, has started including cryptocurrency services in its platform. on the double, users of mercadopago will bear purchase, sell and hold cryptocurrencies using mercadolibre’s platform. this is a logical step for the company, that acts as an intermediate between companies offering products and services in the platform and customers consuming these.

the test realm the service was rolled out quietly precocious this month to some customers in brazil, and it be fitting to keep clearing to more customers in the coming weeks. mercadolibre is thinking about growing this test into other markets henceforward, but nothing has been released about the subject. on including crypto as all its avocation model, tulio oliveira, a mercadopago vice premier, stated:

we increase contingency to study and learn before deciding to step into crypto. this has a transformational potential ahead and opens up a new avenue for us.

the company has been interested in crypto for quite some fate, having plunge in cryptocurrencies before. mercadolibre bought $7.8 million worth of bitcoin (btc) between q1 on this subject year, disclosing it last may when it reported its first-quarter banking results. marcos galperin, co-founder, and ceo of the company has been very vocal about how cryptocurrencies can provide other fish in sea to traditional investments, having plunge in crypto companies like ripio personally.

about cryptocurrencies, galperin stated:

cryptocurrencies are in this direction to stay. they have a very important role, nay indeed a means of payment but as a store hot.

perhaps following galperin’s syllogization, users of mercadolibre seized’t bear purchase esteem and pick up the tab services with cryptocurrencies immediately. but if the company wants to emulate paypal, its next step virtual to include cryptocurrencies as a payment method for purchases in the platform.

mercadolibre’s actions might make other big companies in the area to also consider adding cryptocurrencies in their avocation model if everything goes right between this inquests.

what do you ponder mercadolibre including cryptocurrency services in its platform? tell us in the comments section below.

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2021-11-25 11:05:27