MercadoLibre (MELI) Discontinues Mercado Coin After Four Years

TLDR

• Mercado Libre is discontinuing its proprietary cryptocurrency, Mercado Coin, effective April 17, 2026.
• Following this date, the token will no longer be available for purchase, sale, or as a cashback reward.
• Introduced in Brazil in August 2022, the token served as a rewards mechanism for platform purchases.
• Current holders may sell their tokens, utilize them as shopping credits, or opt for an automatic conversion into local fiat currency.
• The company maintains a bitcoin treasury exceeding $38 million and remains committed to other cryptocurrency services.

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(SeaPRwire) –   At the time of reporting, Mercado Libre (MELI) shares were valued at approximately $2,200.

MercadoLibre, Inc., MELI

Nearly four years after its debut, Mercado Libre is sunsetting its native digital asset, Mercado Coin. The company communicated the discontinuation via email and in-app notifications through its Mercado Pago digital wallet.

As of April 17, the ability to buy, sell, or earn cashback via Mercado Coin will be terminated, effectively ending the token’s utility within the Mercado Libre ecosystem.

Launched in Brazil in August 2022 before expanding to additional regions, the token was developed using the Ethereum ERC-20 standard and integrated directly into the Mercado Pago platform.

The asset was primarily intended to incentivize platform activity, allowing users to earn rewards on purchases that could be redeemed for future transactions or liquidated.

The program was managed in collaboration with the cryptocurrency exchange Ripio, which facilitated the token’s trading operations.

Users currently holding Mercado Coin have three primary options: selling the tokens via the app, applying them as credits toward Mercado Libre purchases, or allowing them to be automatically converted into local currency.

Any balances remaining after the April 17 deadline will be automatically converted and deposited into the respective user accounts.

Mercado Libre has not provided a public explanation or official statement regarding the reasoning behind the program’s termination.

Why It Matters for MELI’s Crypto Strategy

The retirement of Mercado Coin does not signal a complete withdrawal from the cryptocurrency space for Mercado Libre.

The firm continues to support token trading and stablecoin transfers through Mercado Pago, and it retains a bitcoin position valued at over $38 million on its balance sheet.

Furthermore, the company’s proprietary dollar-backed stablecoin remains operational. The strategic shift appears to favor established digital assets over internal, branded reward tokens.

This transition reflects a broader trend among major technology firms that are reevaluating their proprietary digital assets, with several companies quietly winding down crypto projects initiated in the early 2020s.

What Happens After April 17

Users may continue to manage their Mercado Coin holdings as usual until the April 17 deadline, at which point all trading and cashback functionalities will be permanently deactivated.

The automatic conversion process ensures that users are protected, as all remaining tokens will be accounted for and converted rather than forfeited.

Mercado Pago is overseeing the entire decommissioning process.

The conclusion of the token’s four-year tenure, alongside the company’s significant bitcoin holdings, indicates that Mercado Libre’s interest in the crypto sector remains intact, albeit redirected toward different priorities.