MercadoLibre’s Payment Service Will Allow Users to Invest in Cryptos
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23 November
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The operator of MercadoLibre, Latin America's large online commerce platform, intends to offer its customers the possibility of investing in cryptocurrencies through its payments app, Bloomberg has reported.

MercadoPago users in Brazil will be able to buy, sell and store cryptocurrencies in their digital wallets.

According to Tulio Oliveira, vice president of the MercadoPago division, since early November the service is being tested by a small group of customers and will soon be available to all users.

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The Argentina-based company intends to bring the product to other Latin American markets. Initially, however, customers will not be able to use cryptos to pay for purchases on MercadoLibre.

Oliveira has stressed cryptocurrencies have "transformational potential" and open up new opportunities for MercadoLibre:

"We took the time to study and learn before deciding to step into crypto."

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