Mercado Libre Ends Mercado Coin Experiment, Discontinues Loyalty-Driven Crypto Feature
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.
Mercado Libre, the e-commerce giant, has announced the discontinuation of its loyalty-driven crypto experiment, Mercado Coin, effective April 17. This decision marks the end of an era for users who engaged with the token for various transactions on the platform.
While users will no longer be able to buy, sell, or earn cashback in Mercado Coin, they do have the option to sell, spend, or convert the token to local currency. This shift in strategy reflects Mercado Libre's evolving approach towards digital currencies and loyalty programs.
The closure of Mercado Coin signals a significant transition for Mercado Libre as it navigates the rapidly changing landscape of cryptocurrencies and blockchain technology. Users are encouraged to take necessary actions before the deadline to ensure a smooth transition away from Mercado Coin.