MercadoLibre, the Latin American-based marketplace, is set to introduce cryptocurrency trading for Brazilian customers.
MercadoPago – the payment platform for online sales – will enable its customers to trade crypto with their digital wallets in what is the company’s first venture into creating a product in the digital space.
Tulio Oliveira, a MercadoPago vice president, said the recent pilot program allowed the company to learn more about the industry and enabled them to encounter an unfamiliar space that they plan on growing in.
“We took the time to study and learn before deciding to step into crypto,” Oliveira said.
“This has a transformational potential ahead and opens up a new avenue for us.”
“Crypto is going to be a major development,” Galperin stated.
“People are trying to retain value, and some of the cryptocurrencies will retain value by definition because they cannot be printed away or devalued.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.