Mercado Libre Phases Out Mercado Coin Loyalty Token Program

Mercado Libre, the leading e-commerce platform in Latin America, has announced plans to discontinue its Mercado Coin loyalty token program. Launched in August 2022, Mercado Coin enabled users to earn cashback and other perks on purchases made through the platform.

The company will require users to redeem their existing balances or convert them to Brazilian reals by April 17. This move comes as another challenge for corporate-backed crypto tokens in Latin America, following the collapse of Nubank's Nucoin in 2024.