Mercado Libre announced that it will shut down its own crypto token, Mercado Coin, starting on April 17, ending a nearly four-year user incentives experiment. Users can choose to sell the tokens or use them to offset payments, reflecting a reassessment by large technology companies of the viability of their own crypto assets. Even so, the company continues to maintain other crypto businesses, showing a cooling off in the platform-token model.

Latin American e-commerce giant Mercado Libre announced that it will shut down its in-house cryptocurrency, Mercado Coin, starting on April 17. Users will be able to sell the token, use it to offset purchases, or wait for it to be exchanged for fiat currency. The token launched in 2022 and was intended to serve as shopping rewards. The company has not explained the reason for the shutdown.