Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The Latin American e-commerce giant is looking to strengthen its cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. strategy – is it preparing for more Bitcoin products?
Free Market an area or arena, online or offline, in which commercial dealings are conducted. the largest e-commerce company in Latin America, is investing in two renowned companies within the cryptocurrency industry.
The Argentina-based company announced the news in a press release. press release published on Thursday of this week. “ Mercado Libre has acquired shares in 2TM Group, parent company of MercadoBitcoin.com.br and made a strategic investment in Paxos “, the firm said without disclosing the exact figures of the operations.
Of Brazilian origin, Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. Marketplace is one of the leading cryptocurrency exchanges in Latin America in terms of market value. For its part, Paxos based in New York City, is a company dedicated to develop infrastructure Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. .
Free Market said in the statement that the move reinforces the “ compromiso” of the company “ with the development and use of cryptocurrencies and blockchain technology in the region. “. The company added that its intention is also to stimulate the digital currency currency is a medium of exchange that defines value. ecosystem in the region, with the possibility of deploying new products and services within this sector.
With investments, Mercado Libre also aims to energize the regional ecosystem, enabling it to offer increasingly relevant products and services to Latin American entrepreneurs and users, who are at the center of its strategy.
Mercado Libre strengthens its crypto strategy
This is not the first effort of Free Market within the crypto space. In December 2021, the company entered into a partnership with Paxos to integrate payments with cryptocurrencies inside your digital wallet, Mercado Pago . The partnership allowed users of Mercado Pago in Brazil start buying and selling Bitcoin ,Ether the form of payment used in the operation of the distribution application platform, Ethereum. y la stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. de Paxos USDP, directly from the application.
Previously, in May, public documents from the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission revealed that the e-commerce giant also made a investment in Bitcoin . Free Market which is listed on the Nasdaq stock exchange, reported that it had purchased USD $7.8 million in Bitcoin early last year as part of a treasury strategy.
Shortly before that the platform a place to buy, sell and store cryptocurrency had also launched a section for buying and selling real estate with digital currencies available in Argentina.
“ Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets and Blockchain technology represent a unique, global and collective phenomenon that breaks down barriers and creates an open and level playing field for all users to achieve economic empowerment, which is very much aligned with our mission as a company. “, he stressed Andre Chaves, senior vice president of strategy and corporate development at Free Market .
As a leading technology company, we are actively evaluating the various innovations and opportunities around this market as it evolves, with the goal of being a central player in this disruption.
The company’s latest investments suggest that it could be preparing to lead greater efforts within the crypto ecosystem. As a result, we could see Free Market deploy a wider range of services and products related to the new asset class in the not so distant future.
- Mercado Libre founder Marcos Galperin says Bitcoin is “a better store of value than gold.
- Latin American company Kaszeh and founder of Mercado Libre invest investing is when you put money in a financial scheme with the intent of making a gain. in DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. startup, ‘Exactly’.
- Brazilian exchange company Mercado Bitcoin acquired Portuguese exchange: CriptoLoja
Article by Hannah Estefania Perez / DiarioBitcoin
Image edited in Canva