The post Mercado Libre Ends Mercado Coin Program, Cites No Official Reason – Crypto News Bitcoin News appeared on BitcoinEthereumNews.com.

Mercado Coin Is Being Discontinued The company notified users through the Mercado Pago digital wallet app and email. No public statement was issued. Mercado Libre introduced mercado coin in August 2022, starting in Brazil. The token was built as an ERC-20 asset on the Ethereum blockchain in partnership with crypto exchange Ripio and initially priced at roughly $0.10 per token. Users earned it as cashback on purchases through Mercado Libre’s marketplace and could either spend mercado coin on the platform or cash it out. The intent was to bring everyday shoppers into the crypto space through a low-friction loyalty mechanism, no need to trade bitcoin or manage volatile assets. In practice, the token stayed inside the Mercado Libre ecosystem and never built meaningful traction elsewhere. Starting April 17, users can no longer buy, sell, or earn mercado coin through the platform. Holders have three options before the deadline: sell tokens through the Mercado Pago app, spend the balance on Mercado Libre purchases, or do nothing. Any remaining balance after April 17 will be automatically converted to local fiat currency, Brazilian reais for most users, and deposited into their Mercado Pago account. Mercado Libre gave no explanation in its user notifications for ending the program. The decision fits a pattern seen across large tech and e-commerce companies that built branded tokens during the 2021–2022 crypto expansion cycle. Many are stepping back from proprietary digital assets while keeping or expanding exposure to more established infrastructure like stablecoins and direct crypto trading. Mercado Libre is not stepping away from crypto entirely. The company continues to offer crypto buying and selling, stablecoin transfers, and other digital asset services through Mercado Pago. It also launched its own dollar-backed stablecoin. On the treasury side, Mercado Libre holds more than $38 million in bitcoin. The company first…

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Filed under: News - @ March 31, 2026 11:28 pm