The closure of Mercado Coin doesn’t mark the end of Mercado Libre’s crypto rewards strategy as it still offers the Meli Dolar (MUSD), a US-dollar stablecoin which launched in 2024.
Latin American e-commerce platform Mercado Libre is reportedly phasing out the Mercado Coin that it launched in August 2022, which was aimed at offering cash backs and other perks for users.
According to a Reuters report on Tuesday, users must sell or spend their loyalty coin balances through the Mercado Pago app before April 17. If no action is taken, the balances will be converted to Brazilian reals.
Cointelegraph reached out to Mercado Libre for comment.
