E-Commerce Giant Mercado Libre Invests in Crypto Firms Paxos, 2TM

Mercado Libre, Latin America’s largest e-commerce institution by marketplace value, has invested successful 2TM, the holding institution for Brazil's largest crypto speech Mercado Bitcoin, and blockchain infrastructure institution Paxos.

• The e-commerce institution bought shares of 2TM and made "a strategical investment" successful Paxos, the institution said successful a statement connected Thursday, without disclosing the concern amount.

• The investments reenforce Mercado Libre’s “commitment to the improvement and usage of crypto assets and blockchain exertion successful the region,” the institution said.

• “As a starring exertion company, we are actively evaluating the assorted innovations and opportunities astir this marketplace arsenic it evolves, aiming to beryllium a halfway subordinate successful this disruption. Digital assets and blockchain exertion correspond a unique, planetary and corporate improvement that breaks barriers and creates a level, unfastened playing tract for each users to execute economical empowerment, which is precise aligned with our ngo arsenic a company,” Andre Chaves, elder vice-president astatine Mercado Libre, said successful a statement.

• Mercado Bitcoin, for its part, ended 2021 with 3.2 cardinal users, 1.1 cardinal of whom joined past year, the institution told CoinDesk successful an email. In that period, its trading measurement reached $7.1 billion, it added.