According to BlockBeats, on August 22, Latin American e-commerce company Mercado Libre's subsidiary, Mercado Pago, introduced a new stablecoin called Meli Dollar, which is pegged to the US dollar. This initiative aims to provide a practical option for financial management.
Mercado Pago users in Brazil will be able to buy and sell the Meli Dollar stablecoin using their Brazilian Real account balances without incurring any fees. Additionally, Latin American crypto company Ripio will serve as the market maker for transactions on the Mercado Pago platform.