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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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MercadoLibre plans to accept BTC and cryptocurrencies as payment for all products

The Latin American e-commerce platform selected Brazil to kick-off crypto payments via its MercadoPago application.

MercadoPago, the fintech arm of e-commerce giant MercadoLibre, has enabled its Brazilian customers to buy, sell and hold Bitcoin (BTC), Ether (ETH) and the Paxos-issued U.S. dollar-backed stablecoin Pax Dollar (USDP). In a statement issued Thursday by U.S.-based Paxos, the blockchain infrastructure platform used by PayPal and Facebook, the partnership between MercadoPago and Paxos will allow users to pay for all products sold on the platform using cryptocurrency.

This news signals one of the largest stablecoin operations within a non-crypto wallet to date. Brazilian users looking to hold U.S. dollars can now do so for as little as 1 Brazilian real within the MercadoPago app by purchasing USDP. In inflation-plagued Latin America, stablecoins can provide a safety net against fiat monetary debasement.

Starting with Brazil, MercadoLibre’s largest market, the collaboration with Paxos plans to “accelerate the democratization of financial services in Latin America.” As MercadoPago hopes to make crypto more easily accessible for all Brazilians, Paxos plans to safeguard customer assets.

Since MercadoPago is authorized by Brazil's central bank to act as a payment institution, the overall operation and integration of the platforms will be done by Paxos, which has opened an office in Brazil and will handle reporting users' transactions to the regulators, according to Tulio Oliveira, vice president of MercadoPago Brazil.

Related: Depois de anunciar venda de Bitcoin, Mercado Livre planeja aceitar BTC e criptomoedas como pagamento para todos os produtos

MercadoLibre has been serving unbanked and underbanked populations since 1999. Now, MercadoPago and Paxos are among the few companies trying to normalize connectivity and mainstream use cases of stablecoins. Reserve is another platform that serves to convert local currencies in Venezuela, Colombia, Argentina and Panama to U.S. dollars via the Reserve (RSV) stablecoin. 

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