Mercado Libre has announced the discontinuation of its cryptocurrency, Mercado Coin, nearly four years after its launch. Starting April 17, users will no longer be able to buy, sell, or earn cashback in Mercado Coin, effectively ending its use within the platform. The decision was communicated via Mercado Pago, the company's digital wallet, which will manage the phase-out process. Launched in August 2022 in Brazil, Mercado Coin was designed to reward users for purchases on the platform, with tokens that could be used for future purchases or cashed out. Users can now sell their tokens through the app, use them as purchase credits, or wait for an automatic conversion into local fiat currency. Despite this move, Mercado Libre continues to support other crypto features and holds over $38 million in bitcoin on its balance sheet.
Mercado Libre Discontinues Mercado Coin After Four Years
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