Mercado Libre Unveils Expansion Plans for Its Stablecoin in Latin America

Mercado Libre, a major e-commerce and financial services company in Latin America, has announced the expansion of its Meli Dólar stablecoin to Mexico.

Developed in collaboration with the Argentine crypto exchange Ripio. The Meli Dólar is a dollar-pegged stablecoin initially launched in Brazil in August. This expansion targets Mexico due to its high cryptocurrency adoption rates, making it a strategic move. The stablecoin aims to help users maintain stable value without a dollar-based bank account, with no fees for transactions.

Mercado Libre is also considering a future launch in Argentina, pending regulatory approvals.

Clever Robot News Desk 18^th September 2024