HomeCoinsBitcoin (BTC)Mercadolibre to Allow Users to Invest in Cryptocurrencies From Its Platform –...

Mercadolibre to Allow Users to Invest in Cryptocurrencies From Its Platform – Bitcoin News

- Advertisement -


Mercadolibre, one of the biggest online retailers in Latin America, has started rolling cryptocurrency trading services to a selection of their customers and plans to expand this test in the coming weeks. Mercadopago, the payments service native to the platform, will allow these customers to purchase, hold and sell cryptocurrencies directly from the platform. The pilot run will start in Brasil and it might extend to other countries later.

Mercadolibre Forays Into Crypto Services

Mercadolibre, the biggest Latam-based company, has started including cryptocurrency services in its platform. Now, users of Mercadopago will be able to 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 run of the service was rolled out quietly earlier this month to some customers in Brazil, and it is expected to keep expanding to more customers in the coming weeks. Mercadolibre is thinking about growing this test into other markets in the future, but nothing has been announced about the subject. On including crypto as part of its business model, Tulio Oliveira, a Mercadopago vice president, stated:

We took the time to study and learn before deciding to step into crypto. This has a transformational potential ahead and opens up a new avenue for us.


Flirting With Crypto and Limitations

The company has been interested in crypto for quite some time, having invested in cryptocurrencies before. Mercadolibre bought $7.8 million worth of bitcoin (BTC) during Q1 of this year, disclosing it last May when it reported its first-quarter financial results. Marcos Galperin, co-founder, and CEO of the company has been very vocal about how cryptocurrencies can provide alternatives to traditional investments, having invested in crypto companies like Ripio personally.

About cryptocurrencies, Galperin stated:

Cryptocurrencies are here to stay. They have a very important role, not so much as a means of payment but as a store of value.

Perhaps following Galperin’s train of thought, users of Mercadolibre won’t be able to purchase goods and pay for services with cryptocurrencies immediately. But if the company wants to emulate Paypal, its next step would be 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 business model if everything goes right during this trial run.

What do you think about Mercadolibre including cryptocurrency services in its platform? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

First published here

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,546FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 53,607.00
ethereum
Ethereum (ETH) $ 4,236.07
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 536.53
litecoin
Litecoin (LTC) $ 188.73
eos
EOS (EOS) $ 3.81
okb
OKB (OKB) $ 26.19
tezos
Tezos (XTZ) $ 4.78
leo-token
LEO Token (LEO) $ 3.38
cardano
Cardano (ADA) $ 1.57
monero
Monero (XMR) $ 222.77
stellar
Stellar (XLM) $ 0.329897
chainlink
Chainlink (LINK) $ 23.28
huobi-token
Huobi Token (HT) $ 9.48
tron
TRON (TRX) $ 0.094267
usd-coin
USD Coin (USDC) $ 0.999723
dash
Dash (DASH) $ 167.56
neo
NEO (NEO) $ 35.08
iota
IOTA (MIOTA) $ 1.42
nem
NEM (XEM) $ 0.161525
zcash
Zcash (ZEC) $ 204.61
maker
Maker (MKR) $ 2,770.22
paxos-standard
Pax Dollar (USDP) $ 0.995088
ethereum-classic
Ethereum Classic (ETC) $ 44.99
vechain
VeChain (VET) $ 0.109484
true-usd
TrueUSD (TUSD) $ 0.999948
ftx-token
FTX Token (FTT) $ 47.12
kucoin-shares
KuCoin Token (KCS) $ 24.50
waves
Waves (WAVES) $ 21.01