Mercadolibre is approaching Krypto with investments in Paxos and Mercado Bitcoin -
Mercadolibre is approaching Krypto with investments in Paxos and Mercado Bitcoin -
Mercadolibre, one of the greatest unicorns from Latam, has announced strategic investments in two cryptocurrency exchanges: Paxos and Mercado Bitcoin. With these investments, the platform of cryptocurrency comes closer after it has already bought Bitcoin as a direct investment for her state treasury and offers its users in several countries in Latam the opportunity to invest in crypto.
Mercadolibre is more money in crypto
Mercadolibre, one of the largest e-commerce platforms in Latam, with more than 70 million customers, announced strategic investments in two exchange platforms. The unicorn announced On January 20, it had acquired shares in 2TM, the parent company of Mercado Bitcoin, one of Brazil's leading stock exchanges with three million customers. The company also invested in Paxos, a stable coin issuer and provider of blockchain infrastructure.
The amounts invested in each of these companies were not provided, but the company said that the aim of the investments was to stimulate the regional ecosystem and enable them to offer increasingly relevant products and services for Latin American entrepreneurs and users on the heart of his strategy. "
Andre Chaves, Senior Vice President of Strategy and Corporate Development at Mercadolibre:
2TM and PAXOS share this vision and our conviction to continue to be innovative in order to offer solutions that improve people's lives, create values and promote the development of our region. We want everyone to be able to access the market for digital assets in a simple and transparent way.
The company in crypto
The relationship of the company and cryptocurrencies is not new. Mecadolibre has been a cryptocurrency -friendly company for some time. The investment in the Paxos company was preceded by a partnership founded last year, which made it possible for some customers of the company invest in cryptocurrencies directly on the platform of Mercadolibre via Mercadopago in Brazil. At that time, the company announced that this service will be expanded to other countries this year.
In addition, the company is one of the few in Latam who officially reported that it has crypto as part of its treasury. It has announced that it was bought almost $ 8 million in bitcoin ( Bitcoin ) last May when he published the financial results for Q1 2021. However, the giant has failed to allow customers to pay goods and services that are its main business with cryptocurrencies, and he has not announced this functionality for the introduction of cryptocurrencies.
What do you think of Mercadolibre's investment in Paxos and Mercadobitcoin? Tell us in the comment area below.
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