Mercado Libre expands services in Chile

The company will offer its services in partnership with Latin American crypto firm Ripio.

Latin American e-commerce firm Mercado Libre has expanded its crypto trading offering throughout Chile, enabling access to its services through its digital wallet Mercado Pago.

Users of the Mercado Pago wallet can trade using Bitcoin and Ethereum with a minimum of 50 Chilean pesos.

The firm will offer its trading feature in partnership with Latin American payments company Ripio, which previously launched crypto trading in both Brazil and Mexico.

Ripio also worked with Mercado Libre on the development of its native cryptocurrency token, the Mercado coin.

Since December 2021, more than two million users have traded crypto on Mercado Pago with an excess of 150,000 in the first month since launching in Mexico.

“We continue to open doors for millions of users in the region: first Brazil and Mexico, and now also Mercado Pago users in Chile can buy, sell and save from the app,” said Mercado Libre’s fintech vertical director Osvaldo Gimenez, in a LinkedIn post.

Mercado Pago senior director Matías Spagui said: “Entering the crypto business is another step to continue transforming and expanding access to financial services in Chile and Latin America.

“Through this new service, we seek to give millions of Chileans access to the crypto world in an educational, secure and simple way, to generate greater financial inclusion.”

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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