Multinational E-commerce Firm MercadoLibre Introduces Its Own Crypto In Brazil

Following the ongoing trend of cryptocurrencies, Brazil has also brought a revolution in the crypto world as a giant e-commerce firm MercadoLibre is now investing in BTC (Bitcoin) and a few other crypto companies. Moreover, MercadoLibre has announced that they are soon to launch its digital coin MercadoCoin in Brazil.

On the 18th of August 2022, Latin American based well-renowned e-commerce company MercadoLibre Inc. has spoken about its upcoming plans regarding the crypto-industry in which they shared the launch of their very own digital coin named MercadoCoin in Brazil. MecadoLibre believes that the implementation and launch of such digital currency will strengthen the loyalty program of the incorporation.  Moreover, it was announced that initially, MercadoCoin will be worth $0.10 prior to the fluctuation of the market.

Availability of MercadoCoin over Eighty Million Accounts

It was mentioned on the 18th of August that initially in Brazil digital currency and accounts will be available to almost 500,000 clients and expectations are to exceed this digit by over eighty million users till the end of the following month.  Moreover, it is believed that initially, MeracadoLibra has no intentions to launch the respective digital currency in the other arena of the country because of the challenging task.

This political difference is arousing due to two different attitudes towards cryptocurrencies as few countries in Latin America i.e., Venezuela, Brazil and, El Salvador is seemed to be more friendly and interested in the crypto-industry but contrary to it Chile, Ecuador and Bolivia have less regard and concern for the crypto-industry.

Marcos Galperin, the founder and  Chief Executive Officer (CEO) of MeracadoLibra Inc. has disclosed via tweet on Twitter that this newly taken step to channel and operationalize the crypto accounts in the arena would ultimately boost the loyalty program of the company.

MaeracdoLibr’s Betting Over The Crypto-Market

The entry and interest of Meracdolibre Inc. was firstly disclosed in the last year when the firm introduced the crypto wallets and allowed Brazilians to sell and purchase the cryptocurrencies like Ethereum (ETH), Tether (USDT), Bitcoin (BTC) and a few other prominent cryptocurrencies.

However, Osvaldo Gimenez, the CEO (Chief Executive Officer) of Mercado Pago assured the crypto users that it’s part of their plan that soon they’ll be able to purchase and sell the cryptocurrencies In coming time throughout the entire region regardless of third-party financial institutions like banks, brokers and exchanges.

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