Mercado Libre acquires shares in 2TM Group; partners with Paxos in 2022
Summary
Since December 2021, through this collaboration with Paxos, Mercado Pago has been delivering Brazilian consumers access to purchasing, holding, and selling cryptocurrencies (Bitcoin, Ethereum, and Stablecoin) via their digital accounts, with transactions commencing at merely BRL 1 (less than USD 0.20). Senior Vice President of Strategy and Corporate Development for Mercado Libre, Andre Chaves, highlighted that a trailblazing tech firm, they were stalwartly assessing the several innovations and prospects in the market as it evolves, striving to be a core partaker in this disruption. Digital assets and blockchain technology embody a unique, global, and collective phenomenon that disrupts barriers and fabricates a standard of an open playing field for all its users to accomplish economic satisfaction, which resonates with Mercado Libre’s mission as a firm. Andre added that 2TM and Paxos share this vision and that Mercado Libre’s conviction was to constantly innovate and deliver solutions that enhance people’s lives, generate worth, and steer the development of the region. Via the Meli Fund, Mercado Libre’s Corporate Venture Capital wing invests and actively engrosses with its portfolio of outstanding and innovative firms alongside unlocking collaborations with its expanded array of interlinked business units.
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