Online retailer MercadoLibre is expanding its involvement in cryptocurrencies by enabling customers from Brazil to buy, sell and hold digital currencies through its digital payments app.
MercadoLibre, which also ranks as the largest Latin American company by market capitalization, rolled out the services to a section of clients in early November, Bloomberg reports.
The company plans to expand the services in the coming weeks, with an official indicating that the feature was enabled after an extensive study.
“We took the time to study and learn before deciding to step into crypto. This has a transformational potential ahead and opens up a new avenue for us,” Tulio Oliveira, a MercadoPago vice president.
