MercadoPago is the fintech arm for the e-commerce giant MercadoLibre (NASDAQ:)The company has helped Brazilian customers buy, sell, and hold their stock (BTCEther (ETH) and the Paxos-issued U.S. dollar-backed stablecoin Pax Dollar (USDP). Statement issuedThursday will see the official launch of the Paxos partnership with MercadoPago. This is the same platform that PayPal (NASDAQ) and Facebook use to create their blockchain infrastructure platforms. Please allowAll products can be paid for using cryptocurrency by users.

This is the biggest stablecoin operation in a non-crypto vault to date. Brazilian users can buy USDP and hold U.S. dollar for just 1 Brazilian real in the MercadoPago App. To view the full article, click here inflation-plaguedStablecoins in Latin America can be used as a safety net to prevent fiat currency debasement.