Mercado Pago discontinues its Mercado Coin crypto four years after launching it as a loyalty cashback reward

Mercado Pago, the fintech arm of Latin American e-commerce giant MercadoLibre, is shutting down Mercado Coin, which it launched in 2022 as a cashback reward for shoppers in Brazil purchasing on the MercadoLibre platform. The company said its crypto focus has shifted to Meli Dolar, a U.S. dollar-pegged stablecoin available in Brazil, Mexico, and Chile since 2024. Customers holding remaining Mercado Coin balances must sell or spend them on MercadoLibre by April 17, after which any unused balance will be automatically converted to Brazilian reais.