BlockBeats message, March 31, Latin American e-commerce giant Mercado Libre will shut down its platform token Mercado Coin on April 17, ending a user-incentive cryptocurrency experiment that has lasted nearly four years. At that time, users will no longer be able to continue trading the token or receive cashback rewards by making purchases, but they will still be able to sell the token within the app, use it for shopping as a credit, or wait for the system to automatically convert it into local fiat currency.
Mercado Libre said it will continue to keep features such as stablecoin transfers and cryptocurrency asset trading. Its balance sheet still holds more than $38 million worth of BTC.
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