Circle Partners with Mercado Pago for USDC Adoption in LATAM
Circle, a stablecoin company, has announced a new partnership with Mercado Pago, the largest fintech company in the Latin American region. Mercado Pago, a subsidiary of retail giant Mercado Libre, will offer Circle-issued USDC as a payment option to its Chilean customers. This integration will address the demand for trusted digital dollars in facilitating transactions in Chile. The integration of USDC on Mercado Pago’s payment platform is expected to contribute to the increasing adoption of the dollar-backed stablecoin in Chile and the larger Latin American market.
1. Circle partners with Mercado Pago to offer USDC as a payment option in Chile.
2. USDC integration on Mercado Pago’s platform addresses the demand for trusted digital dollars.
3. The stablecoin’s adoption is growing outside of the US, with the LATAM region being a key market.
4. Mercado Libre has been focused on adopting cryptocurrency payments and previously integrated the Pax Dollar stablecoin.
5. Circle will launch native USDC on the Base network to replace bridged USDC liquidity from Ethereum.
Hot Take
Circle’s partnership with Mercado Pago and the integration of USDC on its payment platform is a significant step towards the global adoption of the stablecoin. With the growing demand for trusted digital dollars in Latin America, this collaboration will provide users with an alternative that matches the value of the US dollar. Additionally, Circle’s plan to launch native USDC on the Base network demonstrates its commitment to expanding the reach and accessibility of the stablecoin. Overall, these developments highlight the increasing popularity and utility of stablecoins in the cryptocurrency market.
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