Latin America's e-commerce giant Mercado Libre will shut down its platform token, Mercado Coin

BlockBeats News, March 31st: Latin America's e-commerce giant Mercado Libre will close its platform token Mercado Coin on April 17th, ending a nearly four-year user incentive cryptocurrency experiment. At that time, users will no longer be able to buy or sell the token or receive cashback rewards through consumption, but they can still sell the token within the app, use it for shopping discounts, or wait for the system to automatically convert it to local fiat currency.

Mercado Libre stated that it will continue to retain functions such as stablecoin transfers and cryptocurrency transactions, with over $38 million in BTC still held on its balance sheet.