Latin America’s Largest E-Commerce Platform To Enable Bitcoin Trading In Chile

MercadoLibre has enabled bitcoin and cryptocurrency trading on its Mercado Pago wallet for Chilean users.

MercadoLibre, the largest e-commerce platform in Latin America, has announced that it has enabled bitcoin and cryptocurrency trading to its users in Chile. 

The feature will allow Chilean users to buy, sell and save bitcoin through the company’s MercadoPago wallet app. This makes MercadoPago the first digital account in the country to offer this type of operation, according to a statement posted on LinkedIn by Osvaldo Gimenez, President of MercadoLibre.

The aim of the move is to eliminate barriers to accessing the cryptocurrency market in Chile, making it more accessible to people with less experience or knowledge in the field, the announcement said. The process is expected to be “very simple” and with “very low,” minimum amounts to operate so that even novice users can take their first steps in the market.

"We continue to open the doors of the #cripto world for millions of users in the region: first Brazil and Mexico, and now also #MercadoPago users in Chile can buy, sell and save #Bitcoin," Gimenez said in the translated statement.

MercadoLibre previously enabled the feature for its Brazilian customers in November 2021. This development came after the company purchased $7.8 million worth of bitcoin in May 2021.