While the Argentinan giant will to settling transactions directly through its platform, the use of Bitcoin as a valid payment method in the South American continent is sure to boost the adoption of cryptocurrencies in the continent.
South America has shown an increasingly friendly attitude towards cryptocurrencies, especially in countries like Argentina which have experienced increasing currency controls over the past years.
Now, the acceptance of Bitcoin by the $81-billion retailer will further legitimize the use of cryptocurrency as an alternative to the US dollar in the real estate market. This will likely boost the use of Bitcoin in many Latin markets.
At this time, the service is only available for the purchase of real estate in some of Argentina’s biggest cities but it is expected to expand in the future due to the interest that a crypto and blockchain webinar sparked among more than 300 realtors and investors.
Juan Manuel Carretero, Mercado Libre’s Commercial Director for Vehicles and Real Estate, referred to the new option by stating that, “Bitcoin offers multiple advantages for real estate operations, both for the buyer and for the seller”.
Mercadolibre is Boosting Crypto Adoption in Latin America
The company was originally founded in Argentina but has expanded its presence to 18 countries in the region, including all of South America’s biggest economies. It also expanded its services by creating the “Mercado Pago” digital payment platform, which has gained popularity over the years as an alternative to cash and debit cards.
In the announcement, Carretero also stated that the company was “always alert to the changes in the market”. He also said that the company has seen a tendency towards the use of crypto over the years as the new payment method has paved new ways for all industries involved in high-value…