Latin E-Commerce Giant Launches New US Dollar-Pegged Stablecoin
22.08.2024 10:30 1 min. read Alexander Stefanov
Mercado Libre, the leading e-commerce giant in Latin America, has introduced a new US dollar-pegged stablecoin through its digital banking service, Mercado Pago.
Named Meli Dollar, this stablecoin is set to provide Brazilian users with a stable and efficient financial tool.
According to the announcement, users of Mercado Pago in Brazil can now purchase and trade Meli Dollar using their accounts in Brazilian reais without incurring additional fees. This development aims to offer a dependable solution for managing finances amid economic uncertainties.
Mercado Libre has been increasingly embracing cryptocurrency, having launched Mercado Coin in August 2022, which enables users to shop and earn cashback on the platform. Additionally, Mercado Pago previously teamed up with Paxos to incorporate its blockchain technology, allowing Brazilian users to handle Bitcoin, ether, and Paxos’ stablecoin, USDP.
The introduction of Meli Dollar will be supported by a partnership with Ripio, a prominent cryptocurrency firm in Latin America. Ripio will handle transactions involving the Meli Dollar, leveraging its trading platform and wallet services. This collaboration extends the existing relationship between Ripio and Mercado Pago, which also saw the development of Mercado Coin.
-
1
Bhutan Rolls Out Crypto Payments for Tourists Using Binance Pay
09.05.2025 8:00 2 min. read -
2
South Korea Gets a New Crypto Payment Option with Instant Refunds
10.05.2025 22:00 2 min. read -
3
Ripple Teams Up With UAE Banks to Transform Payments
20.05.2025 19:00 1 min. read -
4
Mastercard Expands Stablecoin Payment Network Through New Partnership
15.05.2025 17:00 2 min. read -
5
Stablecoins Go Mainstream: 90% of Institutions Now Onboard or Exploring Use
17.05.2025 13:00 1 min. read
Ripple Teams Up With UAE Banks to Transform Payments
Ripple is accelerating its regional ambitions with a fresh push into the UAE, forming alliances with Zand Bank and fintech startup Mamo to expand its blockchain-powered payment network.
Pavel Durov Exposes European Government’s Attempt to Muzzle Political Speech
Telegram founder Pavel Durov has revealed that he pushed back against pressure from a Western European government to censor political content on the messaging app in the lead-up to Romania’s presidential election.
Michael Burry Bets Against Tech and China, Leaves Just One Stock Standing
Michael Burry, the contrarian investor made famous by The Big Short, is once again shaking up markets with a bold repositioning of his hedge fund’s portfolio — this time, leaning heavily into pessimism.
Alchemy Bolsters Solana Services With DexterLab Takeover
Blockchain development giant Alchemy is expanding its footprint in the Solana ecosystem through the acquisition of DexterLab, a high-performance infrastructure provider trusted by firms like Google, Chainstack, and the Solana Foundation.
-
1
Bhutan Rolls Out Crypto Payments for Tourists Using Binance Pay
09.05.2025 8:00 2 min. read -
2
South Korea Gets a New Crypto Payment Option with Instant Refunds
10.05.2025 22:00 2 min. read -
3
Ripple Teams Up With UAE Banks to Transform Payments
20.05.2025 19:00 1 min. read -
4
Mastercard Expands Stablecoin Payment Network Through New Partnership
15.05.2025 17:00 2 min. read -
5
Stablecoins Go Mainstream: 90% of Institutions Now Onboard or Exploring Use
17.05.2025 13:00 1 min. read