MercadoLibre Granted License From Brazil’s Central Bank

MercadoLibre plans to further expand its portfolio of credit offerings in Brazil after being granted a key authorization by the central bank to operate as a financial institution in Latin America’s biggest economy, a report from BNAmericas says.

The permit gives greater autonomy to the company to create and directly operate financial services in Brazil. It also allows MercadoLibre to access different sources of financing, which is expected to complement the company’s funding strategy.

Read more: BNAmericas