Share this article
E-Commerce Giant Mercado Libre Taps Paxos to Power Crypto Service in Brazil
Users of Mercado Pago will be able to buy and sell bitcoin, ether and the USDP stablecoin starting in December.
Updated May 11, 2023, 4:09 p.m. Published Dec 2, 2021, 10:16 p.m.
Mercado Libre, Latin America’s largest e-commerce company by market value, is integrating Paxos’ blockchain infrastructure to allow users in Brazil to buy, sell and hold cryptocurrencies, Mercado Libre announced Thursday.
Starting later this month, users of Mercado Pago, Mercado Libre’s digital wallet, will be able to buy and sell bitcoin, ether and the stablecoin , Mercado Libre said. The minimum amount required for a transaction will be 1 Brazilian real, it added.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Paxos will handle crypto trading and custody for Mercado Pago users in an arrangement similar to its integration with PayPal in late 2020 – a service that was widely seen to accelerate the mainstreaming of cryptocurrencies in the U.S. and beyond.
Last week, Mercado Libre told CoinDesk that it was entering the cryptocurrency environment in Brazil together with “a world-class custodian,” adding that it was “analyzing all financial and regulatory aspects surrounding this technology.”
It said Thursday that the crypto service would launch in December but did not specify a date in response to a CoinDesk query.
Read more: Latin American E-Commerce Giant Mercado Libre to Enable Crypto Investments in Brazil
Mercado Pago’s new initiative will provide crypto and stablecoin access to more than 200 million Brazilians, Walter Hessert, head of strategy for Paxos, said in a statement. “This will accelerate mainstream adoption of cryptocurrency and stablecoins across the continent. We are thrilled to partner with Mercado Pago to make it possible,” he added.
“The complete management of crypto can be carried out from a free account, thus facilitating access to new opportunities for financial growth, especially for those currently outside the financial system,” Tulio Oliveira, vice president of Mercado Pago in Brazil, said in a statement.
Mercado Pago’s app will provide bitcoin, ether and USDP prices, as well as educational content about the three cryptocurrencies, the company said.
“The content will address the crypto assets ecosystem, as well as the opportunities and risks associated with cryptocurrency investing,” the company added.
Read more: Charles Cascarilla: PayPal Whisperer
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
