Brazil´s Central Bank Grants Mercado Libre License to Operate as Financial Institution

Mercado Pago, the financial arm of Mercado Libre, has granted over R$4 billion in credit in Brazil since the start of its operations.

RIO DE JANEIRO, BRAZIL - On Monday, November 9th, Mercado Libre, the largest e-commerce and financial services technology group in Latin America, was granted authorization by the Central Bank (BC) to operate as a financial institution, according to a statement released by the company. The decision had already been published in the Federal Gazette on October 15th, but the monetary authority only confirmed it on Monday.

The Central Bank's endorsement makes room . . .

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