- Oct 25, 2021
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Mercadolibre Forays Into Crypto Services
Mercadolibre, the biggest Latam-based company, has
The test run of the service was rolled out quietly earlier this month to some customers in Brazil, and it is expected to keep expanding to more customers in the coming weeks. Mercadolibre is thinking about growing this test into other markets in the future, but nothing has been announced about the subject. On including crypto as part of its business model, Tulio Oliveira, a Mercadopago vice president, stated:
We took the time to study and learn before deciding to step into crypto. This has a transformational potential ahead and opens up a new avenue for us.
Flirting With Crypto and Limitations
The company has been interested in crypto for quite some time, having invested in cryptocurrencies before. Mercadolibre
About cryptocurrencies, Galperin
Cryptocurrencies are here to stay. They have a very important role, not so much as a means of payment but as a store of value.
Perhaps following Galperin’s train of thought, users of Mercadolibre won’t be able to purchase goods and pay for services with cryptocurrencies immediately. But if the company wants to emulate Paypal, its next step would be to include cryptocurrencies as a payment method for purchases in the platform.
Mercadolibre’s actions might make other big companies in the area to also consider adding cryptocurrencies in their business model if everything goes right during this trial run.
What do you think about Mercadolibre including cryptocurrency services in its platform? Tell us in the comments section below.