Mercado Libre, the largest e-commerce platform in Latin America, announced that it has partnered with two crypto-exchanges in the region after receiving massive requests from the community for the commercialization of cryptocurrencies on the platform.

Mercado Libre Supports Cryptos

Since the end of 2017 the most successful commercial publication in the Mercado Libre e-commerce platform is the purchase and sale of bitcoins. With such a great demand for the famous cryptocurrency in Mercado Libre Argentina, the company has reached many alliances with the Ripio and SatoshiTango exchanges.

The sales of bitcoin in the Latin American platform exceeds on average the double sales of Amazon gift cards. Bitcoin, even after losing half of its value since December of 2017, keeps being one of the most attractive products searched on the site.

Trading is also offered in Mercado Libre with other cryptos but to a much lesser extent (10% of publications) in Ethereum (ETH), Ripple (XRP), Litecoin (LTC) among others.

The Ripio exchange announced in April that users in the region, both Argentine and Brazilian, can now transfer their funds stored in Mercado Pago (Mercado Libre wallter) to their Ripio wallet.

Blockchain Above Traditional Banks

Ripio users will be able to use their balance to trade Bitcoins immediately, a huge advantage if contrasted with the typical 48-hour delay of a traditional bank transfer. Users now also count on that when generating balance in Mercado Pago through the Mercado Libre trade, the commissions to transfer that balance in cryptocurrencies to Ripio are a little lower than through other companies.

Sebastián Serrano, CEO of Ripio, has also recently reported that Mercado Libre and his company are working together to enable the operation of purchase and sale of goods and services with cryptocurrencies. Now all Ripio users can use their bitcoins to make purchases in Mercado Libre. With this new tool people who have cryptocurrencies can use their cryptos to make purchases in Mercado Libre without dealing with a bank as an intermediary, which often have legal difficulties or delays in services.

Ripio’s CEO had also said:

Mercado Libre is a company that moves fast like us, although agreements always take time to materialize is much more agile than working with banks, which tend to have much slower dynamics.”