Latin American E-Commerce Giant Mercado Libre Expands Crypto Trading to Chile

The company launched the service in partnership with Ripio, a regional crypto firm.

AccessTimeIconMar 29, 2023 at 5:01 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Mercado Libre, Latin America’s largest e-commerce company by market value, has enabled crypto trading in Chile via its digital wallet, Mercado Pago.

Users of Mercado Pago in Chile can now trade bitcoin (BTC) and ether (ETH) with a minimum amount of 50 Chilean pesos (equivalent to about 6 cents), Mercado Libre’s fintech vertical director, Osvaldo Gimenez, said in a LinkedIn post.

Mercado Pago is offering the trading feature in partnership with Latin American crypto company Ripio. The company previously enabled crypto trading in Brazil in December 2021 and started the same service in Mexico last year.

According to Gimenez, more than 2 million users have traded crypto on Mercado Pago in Brazil since December 2021, while more than 150,000 did so in the first month after the launch of that feature in Mexico.

“Entering the crypto business is another step to continue transforming and expanding access to financial services in Chile and Latin America,” said Matías Spagui, senior director of Mercado Pago in Chile. “Through this new service, we seek to give millions of Chileans access to the crypto world in an educational, secure and simple way, in order to generate greater financial inclusion.”

In Brazil, Ripio recently worked on the development of the mercado coin, Mercado Libre’s cryptocurrency token.

Edited by Stephen Alpher.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Andrés Engler

Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.