Mercado Livre, the largest e-commerce company in Latin America, acquired shares in Grupo 2TM, a company controlled by the cryptocurrency platform Mercado Bitcoin. In addition to this acquisition, the company also made a strategic investment in a digital asset-oriented organization, Paxos.
The Argentine company has shown a positive stance towards digital assets in recent months, demonstrating immense support for the sector. Mercado Livre had recently announced that it had allocated an undisclosed amount in its portfolio to 2TM (holding company of the largest digital asset exchange in Brazil) and Paxos.
With the new investments, Mercado Livre hopes to stimulate the regional ecosystem, allowing it to offer products and services that are increasingly relevant to Latin American entrepreneurs and users.
Mercado Livre's Strategy and Corporate Development vice-president, André Chaves, pointed out that the company has always been attentive to technological innovations and is now betting on a situation in line with its values to bet on the crypto market.
As a leading technology company, we are actively evaluating the various innovations and opportunities around this market as it evolves, with the aim of being a central player in this. Digital assets and technology blockchain they represent a unique, global and collective phenomenon that breaks down barriers and creates an open and level playing field for all users to achieve economic empowerment, which is very much in line with our mission as a company”, highlighted André.
The Executive Vice President of Corporate Development at Grupo 2TM, Daniel Cunha, commented that the investment by Mercado Livre should significantly impact the development of cryptocurrencies and blockchain in the Latin American region.
Even if the partnership between Mercado Livre and 2TM is new, it is not the case with Paxos, since in 2021, the two companies had already entered into a partnership, giving Brazilian customers the opportunity to buy, sell and hold Bitcoin, Ethereum and USDP issued by Paxos.
