Mercado Libre shuts down Mercado Coin, ending its loyalty-driven crypto experiment

Starting April 17, users will no longer be able to buy, sell or earn cashback in Mercado Coin, but can sell, spend, or have the token converted to local currency. What to know : E-commerce giant Mercado Libre is shutting down its homegrown cryptocurrency, Mercado Coin, nearly four years after introducing it to reward customer engagement. Starting April 17, users will no longer be able to buy, sell or earn cashback in Mercado Coin, but can sell their tokens, spend them as purchase credits or have them converted to local currency. The exit reflects a broader trend of large tech firms reconsidering branded digital assets, though Mercado Libre continues to support other crypto features like stablecoin transfers and holds over $38 million in bitcoin on its balance sheet.(Coindesk)