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MercadoLibre Doubles Down on Crypto With Two Purchases

  • It scooped up stakes in Brazil’s 2TM and New York-based Paxos
  • Company didn’t disclose the value of the two transactions
A worker takes a break at the MercadoLibre fulfillment center on Black Friday in Sao Paulo, Brazil, on Friday, Nov. 26, 2021. 

A worker takes a break at the MercadoLibre fulfillment center on Black Friday in Sao Paulo, Brazil, on Friday, Nov. 26, 2021. 

Photographer: Jonne Roriz/Bloomberg
Updated on

Latin American e-commerce powerhouse MercadoLibre Inc. is deepening its presence in the crypto world.  

The company acquired shares of 2TM Participacoes SA, the Softbank Group Corp.-backed owner of the biggest cryptocurrency brokerage based out of Brazil, MercadoBitcoin.com. MercadoLibre also said it made a strategic investment in New York-based Paxos, a blockchain company that it had worked with to offer crypto investments to some clients.