This is Meli Dólar, a stablecoin linked to the value of the US dollar that will be available to any user in Brazil.

Mercado Libre is taking another step in integrating cryptocurrencies into its platform. Now, through its Mercado Pago app, all users in Brazil can buy and sell the Meli Dólar stablecoin, which maintains a parity with the US dollar, offering a new financial option to users of the platform in that country.

According to Forbes , in this first phase, Mercado Libre Brasil customers will be able to buy and sell Meli Dólar through the Mercado Pago app, allowing them to protect themselves from exchange rate fluctuations in an accessible and reliable way.

As a highlight of the launch, the Mercado Pago app will not charge commissions for buying and selling transactions, allowing the acquisition of Meli Dólar using the balance in reais of the user's Mercado Pago account.

A stablecoin maintains its peg to a FIAT currency. In the case of Meli Dollar, it is linked to the US dollar, as explained by the media outlet.

“Meli Dólar joins the offer as a more open solution from Mercado Pago, which has a unique capacity to scale financial products and services for everyone,” explained André Chaves, SVP of Mercado Pago and responsible for the operation in Brazil.

To facilitate the offering of Meli Dólar, a partnership was established with Ripio, one of the largest cryptoasset platforms in Latin America. The Meli Dólar is issued by Meli Uruguay, a company of the Mercado Libre group.

Sebastián Serrano, CEO and co-founder of Ripio, says that “collaborating in the realization of this Meli Dólar project is a great achievement for Ripio, which has been a leader in cryptography in Latin America for more than 11 years.”

“Ripio plays a crucial role in ensuring the security and efficiency of this stablecoin, strengthening users’ confidence in the digital environment,” he added.