Mercado Libre Shuts Down Mercado Coin Experiment

E-commerce giant Mercado Libre is discontinuing its proprietary cryptocurrency, Mercado Coin, after nearly four years. Introduced to enhance customer engagement, the token will cease to be available for buying, selling, or earning cashback starting April 17. Users will have options to sell their existing tokens, use them as purchase credits, or have them automatically converted to local currency. This move reflects a broader reassessment of branded digital assets by major tech firms, although Mercado Libre continues to support other crypto functionalities like stablecoin transfers and holds a significant amount of Bitcoin.