MercadoLibre’s MercadoPago Launches Meli Dollar Stablecoin in Brazil

MercadoPago, the digital banking arm of Latin America’s largest company, MercadoLibre, has announced the launch of a new stablecoin in Brazil. The stablecoin, known as Meli Dollar, is pegged to the US dollar.

This strategic move aims to provide a more stable purchasing power for its users, particularly in regions like Venezuela and Argentina, where currency fluctuations are common.

MercadoLibre is a major e-commerce platform in Latin America, and this financial product is expected to enhance its fintech offerings.

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