Latin America’s Top E-Commerce Player Expands Crypto Services To Chile
E-Commerce giant Mercado Libre, the leading e-commerce firm in Latin America, recently announced that it has partnered with Ripio, a regional cryptocurrency company, to extend its crypto trading services to Chile. This move follows the company’s recent foray into the South American cryptocurrency market. It will give it access to the country’s growing digital economy.
Known for its wide range of products and services, Mercado Libre’s foray into the cryptocurrency space expands its existing services. This expansion is noteworthy, given that Chile is the fifth-largest economy in Latin America.
However, the firm intends to expand to other countries in the region soon. The firm has recorded astonishing successes in Brazil and Mexico.
Trading Crypto Through Mercado Libre’s Digital Payment Platform
Mercado Libre will enable crypto trading in Chile through its digital payment platform, Mercado Pago. According to Osvaldo Gimenez, a top-level executive of the company, users in Chile can now make trades in ETH and BTC starting with a minimum of 50 Chilean pesos (the equivalent of around 6 cents).
He announced via a LinkedIn post, “in conjunction with Latin American crypto firm Ripio, Mercado Pago has made available trading in crypto. This capability was first activated in Brazil in December 2021, followed by the initiation of trading in Mexico in the prior year.”
Based on the information given by Gimenez, during the two months since December 2021, more than two million users in Brazil have taken advantage of the crypto trading feature on Mercado Pago, while in Mexico, that number has grown to over 150,000 in just the first month.
Providing Customers With A Secure And Reliable Cryptocurrency Trading Platform
The partnership between Mercado Libre and Ripio is a strategic move that will help the company expand its services to more regional countries. With the help of its partner, Mercado Libre can offer its customers a secure and reliable platform for cryptocurrency trading.
Ripio will provide the technical infrastructure and support for cryptocurrency trading on Mercado Libre. In contrast, Mercado Libre will give the user experience and customer support through its Mercado Pago platform.
The partnership between the two companies allows them to capitalize on each other’s strengths. For customers in Chile, Mercado Libre’s expansion into the cryptocurrency space will provide them with a secure and reliable platform for trading and investing in digital currencies.
This will open up a new world of digital currency trading to the Chilean market and make it easier for them to access this growing asset class. With cryptocurrency becoming an increasingly popular form of payment, the company is looking to capitalize on this trend and make it easier for customers to make purchases and settle financial transactions.
Though cryptocurrency trading is still in its early stages, the move by Mercado Libre to offer this service in Chile is a significant step forward for the company and a sign of the company’s interest in the Latin American e-commerce market.
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