Friday, March 29

Mercado Libre invests in cryptocurrency firms Paxos and Mercado Bitcoin – DiarioBitcoin


For Hannah Perez

The Latin American e-commerce giant is looking to strengthen its cryptocurrency strategy. Ready for more Bitcoin products?

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Free market, the largest e-commerce company in Latin America, is investing in two renowned companies within the cryptocurrency industry.

The Argentina-based company announced the news in a Press release Posted on Thursday this week. “Mercado Libre acquired shares in 2TM Group, the parent company of MercadoBitcoin.com, and made a strategic investment in Paxos“, said the firm without revealing the exact figures of the operations.

of Brazilian origin, bitcoin market it is one of the leading cryptocurrency exchanges in Latin America in terms of market value. For its part, Paxos, based in New York, is a company dedicated to developing infrastructure Blockchain.

Free market said in the statement that the move reinforces the “commitment” of the company “with the development and use of cryptocurrencies and blockchain technology in the region“. The company added that its intention is also to stimulate the ecosystem of digital currencies in the region, with the possibility of deploying new products and services within this sector.

With the investments, Mercado Libre It also intends to boost the regional ecosystem, allowing it to offer increasingly relevant products and services to Latin American businessmen and users, who are at the center of its strategy.

Mercado Libre strengthens its crypto strategy

This is not the first move Free market within the crypto space. In December 2021, the company partnered with Paxos to integrate cryptocurrency payments within your digital wallet, Payment Market. The alliance allowed users of Payment Market in Brazil start buying and selling Bitcoin, Ether and the stablecoin of Paxos, USDP, directly from the app.

Previously, in May, public filings from the US Securities and Exchange Commission revealed that the e-commerce giant also made an investment in Bitcoin. Free market, listed on the Nasdaq stock exchange, reported that it had acquired USD $7.8 million in Bitcoin early last year as part of a treasury strategy.

Shortly before that, the platform had also launched a section for the purchase and sale of real estate with digital currencies, available in Argentina.

Digital assets and Blockchain technology represent a unique, global and collective phenomenon that breaks down barriers and creates an open and level playing field for all users to achieve economic empowerment, which is highly aligned with our mission as a company.”, highlighted Andre Chaves, Senior Vice President of Strategy and Corporate Development at Free market.

As a leading technology company, we are actively evaluating the various innovations and opportunities around this market as it evolves, with the goal of being a central player in this disruption.

The company’s latest investments suggest that it could be preparing to lead further efforts within the crypto ecosystem. As a result, we could see Free market roll out a broader range of services and products related to the new asset class in the not-too-distant future.


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Article by Hannah Estefanía Pérez / DailyBitcoin

Image edited in Canva

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.





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