Mercado Pago, the digital payments company related to Mercadolibre, has recently announced the extension of the crypto services that it provides to users in Brazil. The company revealed it will now allow customers to deposit their own cryptocurrencies through third-party services and wallets into their cryptocurrency digital wallet with no cost associated.
Mercado Pago to Allow Deposits From Third Party Services
Mercado Pago, the payment processing service of Mercadolibre, one of the biggest e-tailers in Latam, has announced it will be expanding the array of crypto-related services for Brazilian customers launched back in November. The company reported that it will open its platform for customers to receive deposits in crypto coming from third-party services, including other exchanges and other digital wallets.
In a statement sent to Portal do Bitcoin, Mercado Pago stated:
From today, it will be possible to receive Bitcoin, Ethereum and Pax Dollar from other digital wallets through the Mercado Pago app. Last week, transfers within the app itself also started to be enabled.
This increases the functionality of Mercado Pago’s trading services, which before behaved as a closed ecosystem, with users only being able to purchase and sell crypto from within the app. Other companies like Nubank, which uses Paxos as a crypto services partner, also operate in the same way.
The functionality of adding transfers between crypto accounts inside of Mercado Pago’s…
