Paxos and MercadoLibre partner up to bring USDP to Mexico
The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users. Blockchain fintech company Paxos and online marketplace MercadoLibre have entered a partner ship to bring the Pax Dollar (USDP) stablecoin to Mexico via the MercadoPago payment service on June 28. According to a press release shared with Cointelegraph, USDP will be available to all MercadoPago customers throughout Mexico. While the company is based in the United States — with offices in New York, London and Singapore — more than 60% of its active wallets support customers throughout Latin America. Mexico currently boasts a 9.3% penetration rate for cryptocurrency use, with more than 12 million users, per a report from Statista. By 2027, analysts estimate more than 20 million people in Mexico will hold crypto, bring ing the total penetration to 14.6%. The introduction of USDP to the MercadoPago payment ecosystem adds stablecoin access to the service’s options in Mexico, a feature that could provide m...