Mercado Pago, the digital banking subsidiary of Mercado Libre, has introduced a new stablecoin called MELI Dollar in Brazil. This is a U.S dollar stablecoin that offers its users a stable and reliable financial instrument even in the face of economic volatility.
Mercado Pago Debuts MELI Dollar Stablecoin
Mercado Pago has recently launched MELI Dollar, a stablecoin in the Brazilian market that is directly linked to the US Dollar. This helps users have a stable currency when the economy fluctuates.
The company stated that through the Mercado Pago application, users in Brazil can purchase and sell the Meli Dollar without any transaction costs by using their balances in Brazilian reais. This stablecoin is to offer a solution in the handling of finances especially in a region that is exposed to currency volatility.
Through Ripio, the biggest cryptocurrency platform in Latin America, MercadoPago ensures the stability of the Meli Dollar. Ripio acts as the market maker for the transactions tha
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