Circle has teamed up with Mercado Libre to introduce the USDC stablecoin to Mercado Pago.

Mercado Pago, the online payment platform of Mercado Libre, known as Latin America's Amazon with 200 million users, aims to shield its users from economic uncertainty by providing a dollar-matched alternative.

Matias Spagui, Senior Director at Mercado Pago, noted, "With the launch of this stablecoin we seek to diversify access to cryptocurrencies and offer the more than two million Mercado Pago users an alternative that matches the value of the dollar."

Back in 2021, Mercado Libre announced plans to accept cryptocurrencies as payment. Earlier this year, it collaborated with Paxos to integrate the USDP stablecoin for Mexican users.