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Mercadolibre, one of the largest unicorns in Latin America, has announced strategic investments in two cryptocurrency exchanges: Paxos and Mercado Bitcoin. With these investments, the platform has moved closer to cryptocurrencies, having purchased Bitcoin as a direct investment in its treasury and offering users in several Latin American countries the possibility to invest in cryptocurrencies.
Mercadolibre puts more money behind cryptocurrencies
Mercadolibre, one of the largest e-commerce platforms in Latin America with more than 70 million customers, announced a strategic investment in two trading platforms.Latin American Unicorn Announce On January 20, it acquired a stake in 2TM, the parent company of Mercado Bitcoin, one of Brazil’s leading exchanges with 3 million customers. The company has also invested in stablecoin issuer and blockchain infrastructure provider Paxos.
The amount of investment in these companies was not provided, but the company informed that the purpose of the investment is to “stimulate the regional ecosystem, enabling it to provide Latin American entrepreneurs and users with increasingly relevant products and services that are part of their strategy. core.”
Andre Chaves, Senior Vice President of Strategy and Corporate Development at Mercadolibre, said of the investment:
2TM and Paxos share this vision and our belief in continuing to innovate to deliver solutions that improve people’s lives, create value and advance our region. We want everyone to be able to access the digital asset market in a simple and transparent way, which is our goal.
crypto company
The company’s relationship with cryptocurrencies is nothing new. Mecadolibre has long been a cryptocurrency-friendly company.The investment in Paxos follows a partnership formed last year that allowed some of the company’s customers to invest Trade cryptocurrencies directly on Mercadolibre’s platform through Mercadopago in Brazil. At the time, the company announced it would roll out the service to other countries later this year.
Additionally, the company is one of the few companies in Latin America to officially report having cryptocurrencies as part of its treasury.it declares that it has Buy Nearly $8 million in Bitcoin (bitcoin) last May, it reported financial results for the first quarter of 2021. However, the giant has failed to allow customers to use cryptocurrencies to pay for goods and services in its main business, and has yet to announce a possible date for the introduction of cryptocurrencies. this function.
What do you think of Mercadolibre’s investments in Paxos and MercadoBitcoin? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
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