E-commerce giant Mercado Libre (MELI) is ending its homegrown cryptocurrency, Mercado Coin. Users will lose access to buying, selling, or earning cashback in Mercado Coin starting April 17. They can still sell tokens, convert them to local currency, or use them as purchase credits.
Launched in Brazil in August 2022, Mercado Coin aimed to reward customers for purchases. Despite this move, Mercado Libre continues to support other crypto features, including stablecoin transfers, and holds over $38 million in Bitcoin (BTC).
This shutdown underscores the evolving landscape of branded digital assets among major tech companies.