MercadoLibre enables crypto transactions for Brazilian clients

 

By FintechNews staff

-MercadoLibre, known in Brazil as MercadoLivre, is the country’s biggest ecommerce platform.

-Brazilians will soon be able to buy, sell, and hold bitcoin via MercadoPago, MercadoLibre’s digital payments app.

-The largest Latin American company by market capitalization rolled out this feature to a small group of clients earlier in November and will enable it more broadly in the coming weeks.

-“We took the time to study and learn before deciding to step into crypto,” Tulio Oliveira, MercadoPago vice president, said per the report. “This has a transformational potential ahead and opens up a new avenue for us.”

-“The idea is to replicate the product in other Latin American markets going forward, according to Oliveira,” per the report. “However, customers, at first, won’t be able to use cryptocurrencies to pay directly for goods purchased on MercadoLibre, he said.”

-According to Mercado Libre, the proposal will attain different Latin American markets, which in precept would come with Argentina. However, prospects at first They won’t be able to make use of cryptocurrencies to pay immediately for items bought in MercadoLibre. So in precept it is going to be a transfer extra associated to finance.

-Since April, Mercado Libre accepts actual property advertisements in cryptocurrencies. From now on, it is going to be doable entry properties with Bitcoin by way of the platform and there can be a unique part of properties which can be traded in cryptocurrencies.

“We are always attentive to the changes that occur in the market. Bitcoin offers multiple advantages for real estate operations, both for the buyer and for the seller“mentioned Juan Manuel Carretero, Mercado Libre’s industrial supervisor of autos, properties and companies, in the course of the official announcement.

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