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Latin America: Stablecoin Race Heats Up
The race for Latin America’s massive stablecoin market has become more competitive. Following the successful launch of Circle’s proprietary USDC via behemoth banks BTG Pactual and Nubank in March, the unicorn Latin American startup Mercado Libre has rolled out its commission-free dollar-backed stablecoin, the Meli Dolar. Pegged 1-to-1 to the US dollar, the Meli Dolar aims to leverage the electronic marketplace’s significant presence in Brazil to establish a dominant position in the country. Propelled by Meli’s already massive clientele base, the next step is to expand the offering to the remaining countries ... (full story)
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- Posted: Sep 5, 2024 7:55am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 114
