Mexico is the next destination for Mercado Libre's stablecoin

The Mercado Libre team is preparing to launch Meli Dólar in more countries after its debut in Brazil.

The ecommerce giant hopes to offer its cryptocurrencies in all the countries where it operates.

"We need the regulation to change," said a MercadoPago executive about Argentina. Almost a month after Mercado Libre, a multinational e-commerce company, launched its own stablecoin called Meli Dólar in Brazil, the company is preparing to offer it in more countries. The next place on the list is Mexico, according to Juan Vita, product director at Mercado Pago, the company's payment platform.

In conversation with CriptoNoticias, Vita revealed that they want to comply with the regulations of each country in which Mercado Libre operates to offer Meli Dólar. "In particular, now we are going to continue with Mexico, where we will be launching it in these days," he anticipated.

The intention is to continue taking the different 'alts' to where we operate," clarified the Mercado Pago executive. In addition to Brazil and Mexico, Mercado Libre operates in Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, the Dominican Republic, Uruguay, and Venezuela.

Vita's statements took place at Modular, a cryptoasset industry conference organized by Ripio in São Paulo on September 12, where Vita gave a conference. At the moment, the altcoins that Mercado Libre has launched are Mercado Coin in August 2022 and Meli Dólar in August 2024, which was developed in collaboration with the Ripio cryptoasset exchange.

Unlike Mercado Coin, which is a volatile cryptoasset, whose price varies according to supply and demand, Mercado Dólar is a stablecoin pegged to the dollar (USD). The latter means that it maintains a 1:1 parity quote with the US currency.

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