**Mercado Libre Launches Meli Dollar Stablecoin in Brazil**

Latin American e-commerce giant Mercado Libre has rolled out a new dollar-pegged stablecoin in Brazil via its financial arm, Mercado Pago. Named the Meli Dollar, this stablecoin aims to provide stability in Brazil's volatile economy and will be traded through the Mercado Pago app.

- **Market Maker**: Local crypto platform Ripio will handle exchange operations for the Meli Dollar.

- **No Fees**: Initially, there will be no fees for purchasing the stablecoin with Brazilian reals or for trading it.

- **User Benefits**: The Meli Dollar offers a hedge against exchange rate fluctuations, according to Mercado Pago's senior VP Andres Chaves.

This move follows Mercado Libre's previous crypto ventures, including accepting Bitcoin and Ether payments and launching the Mercado Coin token.