Key TakeawaysMercadoLibre will discontinue Mercado Coin operations effective April 17, 2026The platform will cease all buying, selling, and cashback earning functions for the tokenThe cryptocurrency debuted in August 2022 in Brazil as a customer loyalty rewards tokenToken holders have options to liquidate, utilize as platform credits, or receive automatic conversion to fiatThe company maintains a bitcoin position exceeding $38 million and continues other cryptocurrency servicesMercadoLibre (MELI) stock was hovering near $2,200 during recent trading sessions.MercadoLibre, Inc., MELIMercadoLibre has decided to discontinue Mercado Coin, its proprietary digital currency, approximately four years following its initial launch. The Latin American e-commerce leader communicated this decision to customers through push notifications and electronic messages within its Mercado Pago digital payment platform.Effective April 17, the platform will eliminate all functionality related to purchasing, selling, or accumulating cashback rewards in Mercado Coin. This marks the conclusion of the token’s integration within the broader MercadoLibre marketplace ecosystem.The digital asset first appeared in August 2022 within the Brazilian market before expanding to additional territories. Built using Ethereum’s ERC-20 technical framework, the cryptocurrency was exclusively available through the Mercado Pago mobile application.Mercado Coin served primarily as an incentive mechanism for platform transactions. Shoppers received token-based rewards for qualifying purchases, which could be redeemed for subsequent transactions or converted to traditional currency.The initiative functioned alongside Ripio, a cryptocurrency exchange platform that facilitated the token’s trading infrastructure.Current Mercado Coin holders face three pathways for their existing balances. They may liquidate their holdings directly within the application, apply them as shopping credits on MercadoLibre‘s marketplace, or take no action and receive automatic conversion to their local currency.All unredeemed token balances will undergo automatic conversion and deposit into user accounts following the April 17 deadline.The company has not issued a public rationale for discontinuing the program. MercadoLibre’s customer communication contained no formal explanation regarding the timing or motivation behind this strategic pivot.Implications for MELI’s Digital Asset ApproachWhile terminating Mercado Coin, MercadoLibre continues to maintain involvement in the cryptocurrency sector.The organization still facilitates stablecoin transactions and cryptocurrency trading capabilities within Mercado Pago. Financial records indicate the company retains over $38 million in bitcoin assets.Additionally, MercadoLibre operates its own USD-pegged stablecoin, which continues normal operations. The strategic direction suggests a transition from custom reward tokens toward more established digital currencies.This decision aligns with emerging trends among major technology corporations reevaluating proprietary cryptocurrency initiatives. Multiple enterprises that introduced branded digital tokens during the early 2020s have subsequently discontinued these projects with minimal fanfare.Post-April 17 Transition DetailsUntil the April 17 deadline, users retain full access to existing Mercado Coin functionality. Following this date, all purchasing, selling, and reward accumulation features will undergo permanent deactivation.The automated currency conversion mechanism ensures users experience minimal disruption rather than complete asset loss. Every token will receive proper valuation during the conversion process.Mercado Pago assumes complete responsibility for managing all aspects of the phase-out procedure.As this four-year chapter closes, MercadoLibre maintains its substantial bitcoin position exceeding $38 million, indicating continued interest in digital assets despite abandoning its proprietary token — the strategy has evolved rather than disappeared.The post MercadoLibre (MELI) Discontinues Mercado Coin: What Investors Need to Know appeared first on Blockonomi.