Mercado Libre has made an announcement in regards to its expansion of cryptocurrency services in the LATAM region. The platform is targeting more countries in the LATAM region so they can benefit from cryptocurrencies as much as possible.
Mercado Libre Expands to More Countries in LATAM
Mercado Libre is one of the biggest LATAM-based retailers. The firm is now aiming to expand its services in a particular region so the people in more LATAM countries can benefit from the services.
Mercado Libre currently provides its cryptocurrency services to the people in Brazil. The people in Brazil are currently able to benefit from the cryptocurrency services being offered by Mercado Libre.
Reason for Expansion
However, the platform wants to expand its services to more parts of LATAM. The reason why Mercado Libre has made the decision of expanding its services is because of the customer it has built-in Brazil alone.
According to Mercado Libre’s claims, it already has a customer base of over a million in Brazil who are using cryptocurrency services.
The customer base has been built around the provisioning of cryptocurrency-related services that include digital wallets and payment services.
More Companies Want to Copy Mercado Libre
By now, it has become obvious that several other companies are after the same kind of recognition in LATAM. Many more platforms have also started to expand their services’ jurisdiction in other parts of LATAM.
The cryptocurrency sector knows quite well how popular and in demand, its services and products are in the Latin-American region. Therefore, they are expanding their services in the particular region to take full advantage.
Osvaldo Gimenez on the Expansion
The head of digital payments and wallet service of Mercado Libre as well as Mercado Pago, Osvaldo Gimenez has made a statement about their company’s expansion.
Gimenez stated that Mercado Libre is currently one of the largest retailers in the LATAM region. Therefore, it considers that it is its responsibility to provide services and facilitate its people as much as it can.
This is the reason why they do not want to limit their cryptocurrency-related services to Brazil. Just like their retail network, they want their cryptocurrency network to spread all across the LATAM region.
What Mercado Libre Wants to Offer
Gimenez stated that they want to offer the people of the LATAM region to buy and sell cryptocurrencies. For now, they are providing Bitcoin, Ethereum, and USD-pegged stablecoins to their users in Brazil.
Mercado Libre aims to provide the same and more to the people in the LATAM region. Although Mercado has announced their expansion, they are yet to confirm when the expansion is going to take place.