Mercado Libre Mexico, Mexican eBay subsidiary and Mexico’s largest e-commerce platform with over 100 million users and 7 million unique sellers, has begun to accept bitcoin payments due to increasing demand from its customers and merchants.

Founded in 1999, MercadoLibre is an Argentine online marketplace currently oeprating in Brazil, Mexico, Peru and other Latin American countries. MercadoPago, one of the platforms 4 main solutions is MercadoLibre’s safety payment system, in which sellers allow buyers to choose from various payment methods. With the integration of bitcoin, merchants can now accept payments from its buyers like any other payment method at ease.

The company announced:

“In MercadoPago we continue improving so your customers can count with more ways to pay you, maintaining your business with a foot into the future. This new payment option is completely transparent to you and your customers. They can utilize bitcoin to pay you and you will receive the payment in an instant.”

Unlike other e-commerce platforms, merchants of Mercado Libre will receive bitcoin payments through their MercadoPago account in the same manner as other methods including PayPal, credit cards, debit cards, etc. The only difference is that the merchants will be able to see the money instantly arrive in their account balance with bitcoin.

Furthermore, MercadoPago completely manages all transactions and insures them, reimbursing all merchants in sudden market changes or in an event of data breaches or hacking attacks.

“MercadoPago will manage the transaction, completely insuring it,” the company explained. “[Merchants] will transparently receive the money from your sale in your MercadoPago account.”