TLDR
- Mercado Libre will shut down its cryptocurrency, Mercado Coin, on April 17, 2026
- After that date, users will not be able to buy, sell or earn cashback in the token
- Mercado Coin was launched in August 2022 in Brazil as a purchase rewards token
- Users can sell tokens, spend them as credits, or automatically convert them into local currency
- Mercado Libre still holds over $38 million worth of Bitcoin and continues to support other crypto features
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Mercado Libre (MELI) stock price was trading around $2,200 at the time of writing.
Mercado Libre has decided to shut down its own cryptocurrency, Mercado Coin, nearly four years after its launch. The company announced the move through a notice and email via its digital wallet Mercado Pago.
Starting April 17, users will no longer be able to buy, sell or get cashback in Mercado Coin. The token’s role within the Mercado Libre ecosystem will end.
Mercado Coin was launched in August 2022 in Brazil before being rolled out to other markets. It is built on Ethereum’s ERC-20 standard and can be accessed through the Mercado Pago app.
The token is designed to reward users for purchases on the platform. The products offered token incentives that could be used for future purchases or cashed out.
It worked in partnership with cryptocurrency exchange Ripio, which handled the trading side of the token.
Users who still hold Mercado Coin have three options moving forward. They can sell through the app, and spend them as purchase credits MercadolibreOr simply wait for automatic conversion to local fiat currency.
Any remaining balances not manually processed will be automatically deposited into user accounts after the April 17 deadline.
Mercado Libre did not publicly explain the decision in its customer notice. The company did not provide any official statement about why it chose to end the program at this time.
Why MELI’s crypto strategy matters
Despite the withdrawal of the Mercado currency, Mercadolibre It doesn’t completely back away from encryption.
The company still supports stablecoin transfers and token trading through Mercado Pago. It also holds more than $38 million worth of Bitcoin on its balance sheet.
Mercado Libre also has its own dollar-backed stablecoin, which remains active. The focus appears to be shifting away from special reward tokens and towards more established digital assets.
The move fits into a broader pattern among big tech companies that are rethinking branded digital tokens. Many companies that launched their own crypto assets in early 2020 have since quietly shut them down.
What will happen after April 17?
From now until April 17, users can still interact with their Mercado Coin collectibles as usual. After the downtime period ends, the buying, selling and cashback features will be permanently disabled.
Automatic conversion to local currency gives users a smooth landing instead of a difficult scan. No tokens will simply disappear – each will be counted upon conversion.
Mercado Pago handles the entire phase-out process from start to finish.
The token’s four-year run ends with Mercado Libre holding a Bitcoin position worth more than $38 million, suggesting that the company’s interest in cryptocurrencies has not cooled — it has merely shifted.
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