Latin America-based e-commerce and digital financial services technology company Mercado Libre has detailed recent investments in Brazilian crypto native holding company 2TM Group and blockchain infrastructure platform Paxos.
“As a leading technology company, we are actively evaluating the various innovations and opportunities around this market as it evolves, aiming to be a core participant in this disruption,” Mercado Libre Senior Vice President of Strategy and Corporate Development Andre Chaves said. “Digital assets and blockchain technology represent a unique, global and collective phenomenon that breaks barriers and creates a level, open playing field for all users to achieve economic empowerment, which is very aligned with our mission as a company.”
The investments, with values undisclosed, reinforce Mercado Libre’s commitment to the development and use of regional crypto assets and blockchain technology. Mercado Libre seeks to stimulate the regional ecosystem via relevant products and services to Latin American entrepreneurs and users.
Additionally, 2TM Group is the parent company of MercadoBitcoin.com, Latin America’s chief digital assets exchange.
“We are excited to have Mercado Libre joining 2TM and MercadoBitcoin.com as a shareholder,” Daniel Cunha, executive vice president of Corporate Development at 2TM Group, said. “As a key player in the Latam tech and financial services industries, Mercado Libre can have significant impact in the further development of crypto and blockchain in the region, and we are excited to explore and work closely with the company to this end in the future.”
Paxos Head of Strategy Walter Hessert said Mercado Libre was the first major platform to bring crypto and stablecoin access to its users in Brazil.
“This investment is a strong signal of the company’s dedication to leading mainstream adoption of digital assets across LatAm,” he said.