Mercado Libre invests in Mercado Bitcoin, Paxos

Mercado Libre (NASDAQ:MELI) acquires shares in 2TM Group, parent firm of MercadoBitcoin.com, and made a strategic investment in Paxos, a blockchain infrastructure platform that powers the Mercado Pago cryptocurrency experience in Brazil. The values of the investments were not disclosed. With the investments, MELI also intends to stimulate the regional ecosystem, allowing it to offer increasingly relevant products and services to Latin American entrepreneurs and users. MercadoBitcoin.com is Latam’s leading digital assets exchange and Paxos is the current partner of Mercado Libre in the region. Since Dec., through this partnership with Paxos, Mercado Pago has been offering Brazilian users access to buying, holding and selling cryptocurrencies through their digital accounts.