{"id":51446,"date":"2022-08-19T12:53:08","date_gmt":"2022-08-19T10:53:08","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=51446"},"modified":"2022-08-19T12:53:08","modified_gmt":"2022-08-19T10:53:08","slug":"latin-american-e-commerce-giant-mercado-libre-launches-its-own-cryptocurrency","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/latin-american-e-commerce-giant-mercado-libre-launches-its-own-cryptocurrency\/","title":{"rendered":"Latin American E-commerce Giant Mercado Libre Launches its Own Cryptocurrency"},"content":{"rendered":"<p style=\"text-align: justify\">South American online marketplace, <strong>Mercado Libre<\/strong>, just launched its own cryptocurrency, <strong>&#8220;Mercado Coin&#8221;<\/strong> in Brazil, as part of its loyalty program to attract and retain customers.<!--more--><\/p>\n<p style=\"text-align: justify\">According to <a href=\"https:\/\/www.reuters.com\/technology\/mercadolibre-create-cryptocurrency-part-loyalty-program-2022-08-18\/\" target=\"_blank\" rel=\"noopener\">reports<\/a>, MercadoLibre (MELI), announced that Mercado Coin will allow users to make purchases on the Mercado Libre platform and <strong>receive it as cashback<\/strong> on purchases. Customers will then be able to use the digital currency for fresh purchases or trade it on <strong>MercadoPago<\/strong>, the company&#8217;s digital wallet.<\/p>\n<h2 style=\"text-align: justify\">Mercado Coin will Boost to Attract New Customers<\/h2>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-51455 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/image-77.jpg\" alt=\"Latin American E-commerce Giant Mercado Libre Launches its Own Cryptocurrency\" width=\"891\" height=\"407\" \/><\/p>\n<p style=\"text-align: justify\">Mercado Libre, has developed the new cryptocurrency which will follow <strong>Ethereum&#8217;s ERC-20 token standard<\/strong>. The company highlighted that the digital currency will be initially valued at<strong> $0.10<\/strong> apiece and used primarily for <strong>cashback and purchases<\/strong> inside MercadoLibre\u2019s platform. <span style=\"color: initial\">The e-commerce giant expects the cryptocurrency to be available to its 80 million users in Brazil by the end of August, and said it plans to introduce it in other countries<strong> \u201csoon,\u201d<\/strong> without providing further details.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Hoy lanzamos Mercado Coin en Brasil, d\u00e1ndole mayor impulso a nuestro programa de lealtad y dando otro paso para democratizar la inclusi\u00f3n financiera en Am\u00e9rica Latina. <\/p>\n<p>MercadoLibre to create cryptocurrency as part of loyalty program <a href=\"https:\/\/t.co\/7kanuk6GLh\" target=\"_blank\">https:\/\/t.co\/7kanuk6GLh<\/a><\/p>\n<p>&mdash; Marcos Galperin (@marcos_galperin) <a href=\"https:\/\/twitter.com\/marcos_galperin\/status\/1560300716044189696?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"color: initial\">Mercado Libre will operate its cryptocurrency in partnership with the crypto company Ripio, which will provide <strong>custody and trading services<\/strong> on Mercado Pago. <\/span><strong>Marcos Galperin<\/strong>, CEO and founder of MercadoLibre, said that the move will boost the company\u2019s loyalty program and help <strong>\u201cdemocratize financial inclusion in Latin America.\u201d<\/strong><\/p>\n<p style=\"text-align: justify\">Earlier this week, <strong>Osvaldo Gimenez<\/strong>, CEO of Mercado Pago <a href=\"https:\/\/elpais.com\/mexico\/economia\/2022-08-04\/osvaldo-gimenez-director-de-mercado-pago-vamos-a-expandir-la-posibilidad-de-comprar-y-vender-criptomonedas.html%C2%A0\" target=\"_blank\" rel=\"noopener\">emphasized<\/a> that using cryptocurrencies through MercadoPago will have a <strong>meaningful impact in the region<\/strong>, as many people are unbanked or use them mainly to withdraw cash, so this is an <strong>\u201cinvestment opportunity\u201d<\/strong> for those looking for an alternative to fiat money. He said,<\/p>\n<p style=\"text-align: center\"><em>&#8220;It is an alternative investment opportunity that we find very interesting and generates a lot of interest from users. At a time when the dollar has been appreciating, the investments that users have with us are small and for us it\u2019s one more way to diversify their portfolio.&#8221;<\/em><\/p>\n<h2 style=\"text-align: justify\">Latin America Continues to Bet Big on Crypto<\/h2>\n<p style=\"text-align: justify\">In the recent months, crypto adoption has <strong>witnessed a dramatic surge<\/strong> in Latin America. Despite a crypto market downturn, countries like El Salvador, Argentina and Brazil have seen an astronomical rise in crypto and digital assets. Countries across the region are considering legislation to both <strong>promote and safeguard usage of digital assets<\/strong>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/xpinvestimentos?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@xpinvestimentos<\/a> joins us for the Opening Bell to celebrate the XTAGE digital assets trading platform. <\/p>\n<p>Leveraging <a href=\"https:\/\/twitter.com\/NasdaqExchange?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@NasdaqExchange<\/a>\u2019s technology, XTAGE represents a key milestone in democratizing access to the digital assets market in Brazil. <a href=\"https:\/\/t.co\/DS3RXtWVpb\" target=\"_blank\">pic.twitter.com\/DS3RXtWVpb<\/a><\/p>\n<p>&mdash; Nasdaq Exchange (@NasdaqExchange) <a href=\"https:\/\/twitter.com\/NasdaqExchange\/status\/1559187822006910977?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">On August 15, <strong>XP inc<\/strong>, the largest Brazilian brokerage by market value, <a href=\"https:\/\/crypto-economy.com\/xp-brazils-largest-brokerage-firm-launches-bitcoin-ether-trading\/\" target=\"_blank\" rel=\"noopener\">launched<\/a> a crypto trading platform allowing users<strong> to trade bitcoin (BTC) and ether (ETH). <\/strong><a href=\"https:\/\/crypto-economy.com\/neobank-nubank-of-which-warren-buffett-is-a-shareholder-announces-crypto-sale\/\" target=\"_blank\" rel=\"noopener\">Nubank<\/a>, the largest Brazilian digital bank by market value, recently, reached <strong>1 million<\/strong> users on its crypto trading platform, just after one month since inception.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South American online marketplace, Mercado Libre, just launched its own cryptocurrency, &#8220;Mercado Coin&#8221; in Brazil, as part of its loyalty program to attract and retain customers.<\/p>\n","protected":false},"author":21,"featured_media":51457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[5536,4656],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/51446"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=51446"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/51446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/51457"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=51446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=51446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=51446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}