With more than 70 million customers, Mercadolibre, one of Latam’s (Latin America) largest e-commerce platforms, has announced key investments in two exchange platforms. On January 20th, the Latam unicorn revealed that it had purchased shares in 2TM, the parent firm of Mercado Bitcoin, one of Brazil’s most popular exchanges with three million users. Paxos, a stablecoin issuer and blockchain infrastructure provider, was also acquired by the corporation.
Although the amounts invested in each of these companies were not disclosed, the company stated that the investments were made to “stimulate the local ecosystem, enabling it to offer progressively suitable products and services to Latin American business owners and users, who are at the core of its strategy.”
Andre Chaves, Mercadolibre’s Senior Vice President of Strategy and Corporate Development, commented on the investment:
2TM and Paxos share this vision and are committed to continuing to innovate in order to provide solutions that improve people’s lives, generate wealth, and help our region grow. Our goal is for everyone to be able to enter the digital asset market in a straightforward and transparent manner.
That’s all from Mercadolibre for now. Wrap!
