E-commerce giant Mercado Libre to sunset rewards-based Mercado Coin: Report

The closure of Mercado Coin doesn't mark the end of Mercado Libre's crypto rewards strategy as it still offers the Meli Dolar (MUSD), a US dollar stablecoin which launched in 2024.

Latin American e-commerce platform Mercado Libre is reportedly phasing out Mercado Coin, launched in August 2022, which offered cashback and other perks to users.

According to a Reuters report on Tuesday, users must sell or spend their loyalty coin balances through the Mercado Pago app before April 17. If no action is taken, the balances will be converted to Brazilian reals. 

Cointelegraph reached out to Mercado Libre for comment.

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