Key Takeaways
- MercadoLibre is discontinuing Mercado Coin, its proprietary cryptocurrency, effective April 17, 2026
- Following this deadline, purchasing, selling, and earning rewards through the token will cease
- The digital token debuted in Brazil during August 2022 as an incentive mechanism for shoppers
- Holders have multiple exit options: selling tokens, converting to shopping credits, or receiving automatic fiat conversion
- The company maintains a Bitcoin position exceeding $38 million and continues supporting cryptocurrency services
Shares of MercadoLibre (MELI) were hovering near $2,200 during market hours.
The Latin American e-commerce leader is terminating Mercado Coin, its proprietary digital currency, following almost four years of operation. The announcement reached users through notifications and email messages distributed via the Mercado Pago digital payment platform.
Beginning April 17, the platform will disable all functionality related to purchasing, selling, or collecting rewards in Mercado Coin. This marks the complete retirement of the token from the company’s financial ecosystem.
The digital currency made its debut in Brazil during August 2022 before expanding into additional territories. Built using Ethereum’s ERC-20 framework, the token was exclusively available through the Mercado Pago mobile application.
Mercado Coin functioned as an incentive system for platform transactions. Participating merchants offered token bonuses that customers could apply toward subsequent purchases or convert to cash.
The operation ran in collaboration with Ripio, a cryptocurrency exchange that facilitated the token’s trading infrastructure.
Current token holders face a straightforward transition with three available paths. They may liquidate their holdings via the application, apply them toward merchandise on MercadoLibre, or allow the system to execute an automatic conversion to their local currency.
Any unredeemed tokens remaining after the April 17 deadline will automatically convert and deposit into associated user accounts.
The company has not released a public explanation for this strategic pivot. No formal statement detailing the rationale behind discontinuing the program has been issued.
Implications for MELI’s Digital Asset Approach
While retiring Mercado Coin, MercadoLibre continues maintaining its cryptocurrency presence through other channels.
The platform continues facilitating stablecoin transactions and cryptocurrency trading via Mercado Pago. Additionally, the company’s treasury holds Bitcoin assets valued at more than $38 million.
MercadoLibre operates its own USD-pegged stablecoin, which remains fully operational. The strategic direction appears to be pivoting from proprietary reward mechanisms toward established cryptocurrency assets.
This decision reflects a wider industry trend among major technology corporations reassessing branded digital currencies. Numerous organizations that introduced proprietary crypto products during the early 2020s have subsequently discontinued them with minimal fanfare.
Timeline for the Transition
Until the April 17 cutoff date, users retain full access to existing Mercado Coin functionality. Once that date passes, all purchasing, selling, and reward accumulation features will permanently cease operation.
The automatic currency conversion mechanism provides users with a seamless transition rather than forcing immediate action. Token balances won’t disappear â each unit will receive proper valuation during conversion.
Mercado Pago will oversee every aspect of the discontinuation process from start to finish.
As this four-year chapter closes, MercadoLibre’s substantial Bitcoin treasury positionâexceeding $38 millionâindicates the corporation’s ongoing interest in digital assets has merely evolved rather than disappeared entirely.
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