Mercado Libre, a prominent e-commerce platform in Latin America, has launched a dollar-pegged stablecoin named Meli Dollar in Brazil through its financial division, Mercado Pago. Being the company's largest market, Brazil will witness the trading of this stablecoin via the Mercado Pago app. Ripio, a local crypto platform, will facilitate exchange operations for the Meli Dollar without any fees during the initial phase. The stablecoin's introduction comes amidst a growing trend of crypto trading in Brazil, with stablecoins dominating the market. Mercado Pago's senior vice president highlighted the stablecoin as a tool for customers to safeguard against exchange rate fluctuations. This initiative follows Mercado Libre's acceptance of Bitcoin, Ether, and other stablecoins as payment methods in Brazil, showcasing the company's commitment to embracing digital currencies in the region. Read more AI-generated news on: https://app.chaingpt.org/news