MercadoLibre Shifts Focus: Discontinuing Cryptocurrency Initiative to Bolster Core Financial Services

MercadoLibre discontinues its Mercado Coin cryptocurrency cashback program in April 2026 to reallocate resources toward its booming traditional credit and financial services business.

Latin America's dominant e-commerce and fintech player, MercadoLibre, is concluding its venture into cryptocurrency. The company will fully terminate its proprietary "Mercado Coin" cashback program in April, nearly four years after its launch. This move signals a strategic pivot away from digital tokens and toward a heightened emphasis on its expanding traditional credit and financial operations.

Strategic Reallocation Amid Strong Fintech Performance

The decision to sunset Mercado Coin coincides with a period of robust growth for MercadoLibre's conventional financial technology ecosystem. The company's credit portfolio alone has doubled year-over-year, reaching $12.5 billion. Furthermore, in the fourth quarter of 2025, MercadoLibre issued close to 3 million new credit cards and increased its managed assets by 78% to approximately $19 billion. The integration of AI-powered tools is continuously enhancing processes and customer service within its Mercado Pago application.

By winding down the Mercado Coin project, MercadoLibre is streamlining its product offerings. Resources previously allocated to the cryptocurrency program are now being consolidated to strengthen its integrated e-commerce and digital financial services, which remain the core business across Latin America.

Details of the Mercado Coin Phase-Out

Users have already been notified of the discontinuation via the Mercado Pago app. Starting April 17, 2026, it will no longer be possible to earn or trade the digital tokens. However, existing balances will not be forfeited. The company will automatically convert these holdings into local currency, such as Brazilian Reals, and credit them to the respective user accounts.

The Ethereum blockchain-based token was initially introduced in August 2022 as a rewards mechanism for purchases on the platform. Management has not yet publicly specified official reasons for ending the program, which was developed in partnership with the crypto exchange Ripio.

Market Reaction and Technical Position

This strategic refocusing comes as the company's operational strength is only partially reflected in its current market valuation. Since the start of the year, the share price has declined by nearly 11%, with shares currently trading at €1,503.80. A Relative Strength Index (RSI) reading of 26.6 indicates a technically oversold condition for the equity.