Mercado Libre is moving away from its in-house token and shifting attention toward a Stablecoin-based approach.
The company confirmed that Mercado Coin will be discontinued after a four-year run. Users have until April 17 to use or redeem their balances in the Mercado Pago app. Any remaining funds will automatically be converted into Brazilian reals. 💳
Originally introduced in 2022, the token functioned as a cashback reward for purchases made on Mercado Libre. Now, the platform is steering users toward its dollar-pegged Stablecoin, Meli Dolar (MUSD), which will power payments, transfers, and rewards across its ecosystem. Meli+ members will also receive cashback when transacting with MUSD.
Brazil had been the strongest market for Mercado Coin, but the token never developed enough scale or utility to support a broader ecosystem. The shift to a Stablecoin reflects a more practical approach focused on everyday usage rather than maintaining a standalone rewards asset.
Despite ending Mercado Coin, Mercado Libre still holds Bitcoin on its balance sheet. The company first added BTC in 2021 and continues to keep its position, which now totals over 570 BTC.
Through Mercado Pago, users in key markets like Brazil, Mexico, and Chile can still buy, sell, and hold major assets such as Bitcoin and Ethereum, meaning digital asset services remain part of the broader strategy.
Mercado Libre isn’t alone in adjusting course. Several fintech firms have also scaled back internal reward tokens after struggling to maintain long-term demand, opting instead for simpler and more widely usable Stablecoin models.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
