Mercadolibre enables users to invest in cryptocurrencies from its platform – Bitcoin News

Mercadolibre, one of the largest online retailers in Latin America, has started offering cryptocurrency trading services to a selection of its customers and plans to expand this test in the coming weeks. Mercadopago, the platform’s native payment service, will enable these customers to buy, hold and sell cryptocurrencies directly through the platform. The pilot run starts in Brazil and could later be extended to other countries.

Mercadolibre advances in crypto services

Mercadolibre, the largest Latam-based company, has started adding cryptocurrency services to its platform. Now Mercadopago users can buy, sell and hold cryptocurrencies through the Mercadolibre platform. This is a logical step for the company to act as an intermediary between companies that offer products and services on the platform and customers who consume them.

The trial of the service was quietly rolled out to some customers in Brazil earlier this month and is expected to expand to more customers in the coming weeks. Mercadolibre is considering expanding this test to other markets in the future, but nothing has been announced on the matter yet. Regarding the inclusion of crypto in its business model, Tulio Oliveira, a vice president of Mercadopago said:

We took the time to study and learn before deciding to get into crypto. This has potential for transformation ahead of it and opens up a new path for us.

Flirt with crypto and restrictions

The company has been interested in crypto for quite some time, having previously invested in cryptocurrencies. Mercadolibre bought $ 7.8 million worth of Bitcoin (BTC) in the first quarter of this year and announced it last May when it announced its financial results for the first quarter. Marcos Galperin, the company’s co-founder and CEO, has spoken very loudly about how cryptocurrencies can offer alternatives to traditional investments after personally investing in crypto companies like Ripio.

About cryptocurrencies, Galperin said:

Cryptocurrencies are here to stay. They play a very important role, less as a means of payment and more as a store of value.

Perhaps, according to Galperin’s line of thought, users of Mercadolibre cannot immediately buy goods and pay for services with cryptocurrencies. However, if the company wanted to emulate PayPal, the next step would be to add cryptocurrencies to the platform as a payment method for purchases.

Mercadolibre’s actions could lead other large companies in the region to include cryptocurrencies in their business model as well, if everything goes right during this test run.

What do you think of Mercadolibre, which is adding cryptocurrency services to its platform? Let us know in the comments section below.

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Mercadolibre enables users to invest in cryptocurrencies from its platform - Bitcoin News

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