MercadoLibre Drops Crypto Options After PayPal Investment

in crypto •  last month

Days after receiving a $750 million investment from PayPal, Latin American e-commerce giant MercadoLibre intends to ban cryptocurrency related listings and ads, prepaid cards loaded with digital assets, and digital currencies used in games starting on March 19.


image.png



The company is notifying its vendors of the new policies via email.

For now, MercadoLibre's users in almost 20 countries will still be able to withdraw crypto funds received thanks to a partnership forged last year between the platform and bitcoin wallet and merchant processing firm Ripio.

No announcements have been made as to why the cryptocurrency listings will no longer be allowed, but the move comes some days after PayPal made a strategic investment of almost $1 billion in the e-commerce company.

MercadoLibre has raised a total of $1.85 billion in a public share offering, largely thanks to the investment from PayPal.

Source




Contact Live Truth Productions
For more on who we are & what we're about, click here.


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

💩

👎🏻