Gate News message: On March 31, Latin American e-commerce giant Mercado Libre (MELI) announced it will shut down its proprietary cryptocurrency, Mercado Coin, less than four years after the token was launched. Starting April 17, users will be unable to buy, sell, or earn cashback rewards with Mercado Coin through the platform. Existing holders can choose to sell the token through the app, use it as a shopping credit on the Mercado Libre platform, or wait for the system to automatically convert the token into local fiat currency and deposit it into their accounts. Mercado Coin launched in Brazil in August 2022, then expanded to other markets. It is positioned as a rewards token for users’ shopping, built on the Ethereum ERC-20 standard, operated through the Mercado Pago digital wallet, and partnered with a certain cryptocurrency exchange. This shutdown was communicated to users by Mercado Pago in the form of notifications and emails, and the company provided no explanation for the decision.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
