Mass adoption looms as South America's second-largest company accepts crypto ...
Mercado Libre’s move to accept cryptocurrency payments for real estate could usher in a new way of crypto mass adoption in South America. On April 28, MercadoLibre (MELI), the largest Latin American online marketplace, launched a real estate section dedicated to cryptocurrencies. Although the company does not settle property transactions directly, it legitimizes the category as a payment system. The $81 billion retailer is the second largest company in South America and is present in 18 countries, including its three largest markets, Brazil, Argentina, and Mexico. The group also owns....
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2TM GRoup, the company behind Mercado Bitcoin, is now valued at $2.1 billion. It's the second crypto exchange in Latin America to eclipse the $1 billion valuation mark. Latin American cryptocurrency exchange Mercado Bitcoin has secured $200 million in Series B financing from SoftBank, marking one of the largest funding rounds in the region’s history. Mercado Bitcoin will use the funds to expand its offerings and invest in new infrastructure to meet the growing demand for digital assets in the region, the São Paulo, Brazil-based exchange announced Thursday. 2TM Group, the parent company....
Three CEOs of Bitcoin-related projects in Latin America discussed impending adoption in the region.
A bill that seeks to regulate the local cryptocurrency industry has passed the the Senate of Paraguay. On Dec. 17, 2021, the Senate of Paraguay approved a cryptocurrency bill introduced in July. The provisions, which define several key terms including virtual assets and call for licenses to mine cryptocurrencies, will now be sent to the Deputy Chamber for further deliberation.Senator Fernando Silva Facetti, the bill's sponsor, revealed that it's passed in the Paraguayan Senate after a contentious debate. According to the senator, the law also aims to foster the growth of crypto mining....
President Nicolas Maduro stated that Venezuela was a pioneer in cryptocurrency adoption in Latam in an interview with Bloomberg last week. Venezuela is still one of the first cryptocurrency volume movers in South America. However, the petro token, its official cryptocurrency, has failed to pick up steam in national and international markets. President Nicolas Maduro Reaffirms Venezuelan Pioneer Status in the Cryptocurrency Field Venezuelan President Nicolas Maduro reaffirmed the pioneer action that Venezuela had on crypto adoption in Latam. The statements were given during an interview....
Argentinian crypto firm Ripio has acquired Brazil’s BitcoinTrade, Brazil's second-largest exchange by volume. Ripio, a digital asset company based in Argentina, has purchased major Brazilian crypto exchange BitcoinTrade.According to Argentine newspaper Ambito, the acquisition is part of Ripio’s plan to spread across South America. BitcoinTrade is reportedly the second-largest crypto exchange in the country by volume. Ripio CEO and co-founder Sebastián Serrano said it made the purchase to “expand access to the world of digital assets” in the region."We are convinced that Ripio is the best....