PANews reported on August 22 that according to CoinDesk, Mercado Pago, a digital bank under Latin American e-commerce giant Mercado Libre, announced the launch of the US dollar-pegged stablecoin "Meli Dollar" in Brazil. Users can buy and sell the stablecoin with Brazilian real balances without fees. The move aims to provide users with a practical and stable financial management tool. Previously, Mercado Libre has launched the cryptocurrency Mercado Coin and cooperated with Paxos to support users to buy and hold Bitcoin, Ethereum and Pax Dollar (USDP). Latin American encryption company Ripio will serve as a market maker for Meli Dollar transactions.