Mercado Libre Gives Mexican Customers Access to Pax Dollar Stablecoin

Latin America’s leading online marketplace Mercado Libre is diving into crypto again—this time offering stablecoins. Mexican users of the company’s fintech arm, Mercado Pago, will now be able to use Paxos’ Pax Dollar (USDP), according to a Wednesday announcement. ADADMercado Pago is a digital wallet app from Mercado Libre which allows people to make payments. It is a stablecoin: a digital token pegged to a stable asset—in this case the U.S. dollar. Last year, the company launched Mercado Coin, an ECR20 token for customers in Brazil.