Key facts:
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The Meli Dólar will be available, at least in its initial stage, for users in Brazil.
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Mercado Libre has years of experience with Bitcoin (BTC) and cryptocurrencies.
The company Mercado Libre, specialized in electronic commerce, has launched Meli Dólar. It is a stablecoin that maintains parity in its price with the US dollar.
Today, August 21, 2024, advertisement This development that was Made in collaboration with the Argentine exchange RipioThe Meli Dólar will be available on the Brazilian version of the platform, called “Mercado Livre”, and can be purchased using reals, the currency of Brazil.
According to statements From Mercado Pago Brasil to the press, in this first stage, customers will be able to access the purchase and sale of Meli Dólar through the Mercado Pago app. No commissions will be applied for purchase and sale transactions.
André Chaves, director of Mercado Pago and responsible for operations in Brazil, explained:
«Meli Dólar joins the operation as a more open solution for Mercado Pago, which has a unique capacity to scale financial products and services for everyone.»
André Chaves, director of Mercado Pago Brazil.
Sebastián Serrano, CEO and co-founder of Ripio, expressed his enthusiasm for participating in this project. He assured that the Meli Dólar will help Brazilian users to “protect their purchasing power in a time of economic volatility.”
As can be seen in the following graph, provided by TradingView, The real (Brazilian currency) has been on a downward trend for several years against the US dollar:
Price of the Brazilian real, in US dollars. Source: TradingView.
CriptoNoticias has reported that Mercado Libre (a company founded in Argentina in 1999 by Marcos Galperín) is not a novice when it comes to digital assets. Since 2021, for example, holds 412 bitcoin (BTC) in its treasury as a reserve of value.
In addition, in 2022 it had launched its own token on the Ethereum network, Coin Marketwhich is also available for the Brazilian market.
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