LatAm Giant Mercado Libre Launches Its Own Dollar Stablecoin
Mercado Libre, Latin America’s largest company by market capitalization, has launched “meli dolar,” a dollar-pegged stablecoin for the Brazilian market.
Developed in collaboration with Argentine cryptocurrency exchange Ripio and issued by Meli Uruguay S.R.L., this new stablecoin is available through Mercado Pago, the company’s payment processing platform. Users can buy and sell meli dolar without fees, aiming to increase adoption. This launch marks Mercado Libre’s second cryptocurrency initiative, following the 2022 release of its loyalty token, mercadocoin.
Clever Robot News Desk 24th August 2024
