MercadoLibre has enabled bitcoin and cryptocurrency trading in the Mercado Pago wallet for Chilean users.
MercadoLibre, the largest e-commerce platform in Latin America, has announced that it has enabled bitcoin and cryptocurrency trading for users in Chile.
The feature will allow Chilean users to buy, sell and store bitcoins through the company’s MercadoPago wallet app. This makes MercadoPago the first digital account in the country to offer this type of operation, according to a statement posted on LinkedIn by Osvaldo Gimenez, President of MercadoLibre.
The purpose of the move is to remove barriers to accessing the cryptocurrency market in Chile, making it more accessible to people with less experience or knowledge in the field, the announcement said. The process is expected to be “very simple” and “very low,” the minimum amount that can be used so that new users can take their first steps in the market.
“We continue to open the doors of the #cripto world to millions of users in the region: first Brazil and Mexico, and now also #MercadoPago users in Chile can buy, sell and store #Bitcoin,” Gimenez said in a translated statement.
MercadoLibre previously activated the feature for Brazilian customers in November 2021. This development comes after the company bought $7.8 million worth of bitcoins in May 2021.