Key Points
- MercadoLibre is discontinuing Mercado Coin effective April 17, 2026
- The platform will cease all buying, selling, and cashback earning functions for the token
- The cryptocurrency debuted in Brazil during August 2022 as a rewards-based token
- Token holders have options to liquidate, spend, or receive automatic conversion to fiat currency
- The company maintains a bitcoin position exceeding $38 million and supports additional cryptocurrency services
At the time of writing, MercadoLibre (MELI) stock was hovering near $2,200.
MercadoLibre has decided to terminate its proprietary digital currency, Mercado Coin, approximately four years following its initial launch. The Latin American e-commerce leader communicated this decision to users through its Mercado Pago digital payment platform via notifications and email.
After April 17, all functionality related to purchasing, selling, or receiving cashback rewards in Mercado Coin will cease. The cryptocurrency’s integration within the MercadoLibre marketplace will conclude entirely.
The token first appeared in Brazil in August 2022 before expanding to additional regions. Built using Ethereum’s ERC-20 token standard, it was made available exclusively through the Mercado Pago application.
Mercado Coin functioned primarily as an incentive mechanism for platform transactions. Shoppers could earn tokens through qualifying purchases, which could then be redeemed for future transactions or converted to cash.
The initiative operated in collaboration with Ripio, a cryptocurrency exchange that managed the token’s trading infrastructure.
Current Mercado Coin holders face a straightforward path forward with three distinct choices. They may liquidate their holdings via the application, apply them as shopping credits on MercadoLibre, or allow the system to automatically convert them into their local currency.
Any tokens not actively managed by users will receive automatic conversion and deposit into their accounts following the April 17 deadline.
The company’s customer communication did not provide reasoning for the discontinuation. MercadoLibre has remained silent on the strategic factors behind ending the program.
Implications for MELI’s Digital Asset Approach
The Mercado Coin shutdown doesn’t signal MercadoLibre‘s exit from the cryptocurrency space.
The platform continues facilitating stablecoin transactions and cryptocurrency trading capabilities through Mercado Pago. Additionally, the company’s treasury holds bitcoin valued at more than $38 million.
MercadoLibre operates its own U.S. dollar-pegged stablecoin, which remains operational. The strategic pivot appears directed away from custom reward tokens toward established digital currencies.
This decision aligns with emerging trends among major technology companies reassessing proprietary digital token initiatives. Multiple corporations that introduced branded crypto assets during the early 2020s have subsequently discontinued them with minimal fanfare.
Timeline and User Transition
Until April 17 arrives, Mercado Coin holders retain full access to their tokens with normal functionality. Following this deadline, all purchasing, selling, and reward earning capabilities will be permanently deactivated.
The automated currency conversion mechanism ensures users face minimal disruption rather than sudden loss. Every token will be properly accounted for during the conversion process.
Mercado Pago is managing the complete shutdown procedure internally.
While Mercado Coin’s four-year journey concludes, MercadoLibre’s substantial bitcoin holdings exceeding $38 million indicate the company’s cryptocurrency engagement persists — merely redirected.
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