Latin American e-commerce giant Mercado Libre holds over $40 million in cryptocurrencies on behalf of its users

Mercado Libre, one of the largest e-commerce platforms in Latin America, disclosed that it holds more than $40 million in cryptocurrencies, according to its Q1 2024 report. As of March 31, the company held 412.7 Bitcoin and 3,041.6 Ethereum. However, Mercado Libre does not own these assets, as explained by its CIO Richard Cathcart, who said that the company liquidated its cryptocurrencies in 2023. Cathcart said: "This report reflects the fact that we provide users with services to buy, hold and sell. But at present, we do not hold these assets ourselves." (Bitcoin.com)