Mercado Libre launches stablecoin for Mercado Pago users in Brazil
Meli Dólar is Mercado Libre's cryptocurrency for Mercado Pago clients in Brazil, which acts as a stablecoin. The currency is pegged to the US dollar
The Mercado Libre company announced the launch for Mercado Pago customers in Brazil of its Meli Dólar cryptocurrency that acts as a stablecoin and its peg is anchored to the US dollar.
With this launch, clients in Brazil have the opportunity to buy and sell the Meli Dollar stablecoin and enjoy a new financial option, according to Forbes.
“In this first phase, Mercado Libre Brazil customers will be able to buy and sell Meli Dólar through the Mercado Pago app, allowing them to protect themselves from exchange rate fluctuations in an accessible and reliable way.”
Mercado Pago has indicated that they will not charge commissions for purchase and sale operations, “allowing the acquisition of Meli Dólar using the real balance of the user’s Mercado Pago account.”
As explained by André Chaves, SVP of Mercado Pago and responsible for the operation in Brazil, the Meli Dólar stablecoin joins “the offer as a more open Mercado Pago solution”, with the unique capacity to scale financial products and services for everyone.
The Mercado Libre initiative was launched in partnership with the crypto platform Ripio, one of the largest in Latin America. On the other hand, it was learned that the Meli Dólar stablecoin is issued by Meli Uruguay, a company of the Mercado Libre group.
Sebastián Serrano, CEO and co-founder of Ripio, has highlighted the key role of the platform in “guaranteeing the security and efficiency of this stable currency, strengthening user trust in the digital environment.”
M.Pino
Source: americaeconomia
(Reference image source: Desert Morocco Adventure in Unsplash)
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