Mercado Pago Crypto Strategy Shift Signals End of Mercado Coin

Mercado Pago has announced it will discontinue its in-house cryptocurrency, Mercado Coin, marking a significant shift in its digital assets roadmap. The move highlights a broader Mercado Pago crypto strategy shift as the company pivots toward more stable and scalable offerings in Latin America.

Launched in 2022 as part of a loyalty initiative, Mercado Coin allowed users—primarily in Brazil—to earn rewards in the form of digital tokens when making purchases on MercadoLibre. These tokens functioned as cashback incentives, encouraging repeat usage across the platform. However, the company confirmed that remaining balances must be used or sold by April 17. Any unused funds will automatically be converted into Brazilian reais.

Shift Toward Stablecoin “Meli Dolar”

The decision reflects the ongoing Mercado Pago crypto strategy shift, with the company emphasizing its focus on “Meli Dolar,” a stablecoin pegged one-to-one with the U.S. dollar. Introduced in 2024, the stablecoin is currently available in Brazil, Mexico, and Chile, and is positioned as a more reliable and practical digital currency for everyday transactions.

Evolving Crypto Vision in Latin America

According to the company, this transition is part of the continued evolution of its crypto ecosystem. The Mercado Pago crypto strategy shift underscores a growing trend among fintech firms to move away from experimental tokens toward regulated and stable digital assets. As competition intensifies, Mercado Pago is focusing on building trust and expanding adoption through more stable financial solutions.