Circle, the issuer of USDC, is partnering with Mercado Libre, a Latin American e-commerce platform with over 200 million users. This collaboration will allow users of Mercado Pago, the fintech service of Mercado Libre, to make payments using USDC in key markets, starting with Chile. Over two million Chileans are already Mercado Pago users.

The partnership aims to provide Chileans access to the benefits of a digital dollar, such as secure, transparent, and rapid transactions. This year, Visa became the first payment network to settle USDC transactions on Ethereum. Ethereum holds the majority of USDC circulation, with $21.3 billion, followed by Arbitrum with over $700M.

Matías Spagui, Senior Director of Mercado Pago, said, “With the launch of this stablecoin we seek to diversify access to cryptocurrencies and offer the more than two million Mercado Pago users an alternative that matches the value of the dollar.” Rachel Mayer, VP of Product at Circle, added that “Latin America is emerging into an epicenter for the digital economy with flourishing innovation and enthusiasm about digital dollars.”

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	South America
Countries	🇨🇱
Sentiment	positive
Relevance Score	8
People	Rachel Mayer, Matías Spagui
Companies	Defillama, Ethereum, Mercado Pago, Mercado Libre, Polygon, Solana, Visa, Avalanche., Circle, Arbitrum
Currencies	Ethereum, Avalanche, Polygon, Bitcoin, USD Coin, Solana, Arbitrum
Securities	None