Mercado Libre Ditches Loyalty Token, Embraces Stablecoins
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Mercado Libre, Latin Americas leading e-commerce platform, is discontinuing its Mercado Coin loyalty token. The ERC-20 token will cease functioning on April 17th, allowing users to sell it, use it as credit, or convert it to local currency. The company hasnt revealed the reason behind this decision, but the tokens volatility might have played a significant role. Mercado Libre is now focusing on stablecoins, introducing MeliDolar, a U.S. dollar-pegged stablecoin, to power their cashback program. This shift reflects a growing trend among major players, who are learning that stable options are more suitable for everyday use than volatile loyalty tokens.
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