E-commerce giant Mercado Libre, operating in Latin America, announced that it has launched its own cryptocurrency.
The company, which started its efforts to take part in the crypto money industry in the past days, announced that it would carry its success in Brazil to Latin America. As Mercado expands its scope, it further strengthens its internal work with its own cryptocurrency.
Mercado Libre to Use Mercado Coin First in Brazilian Market
Argentina-based e-commerce company Mercado Libre has launched its cryptocurrency, Mercado Coin, which will be part of a new loyalty program at its press conference.
Initially stated to be worth $0.10, Mercado Coin will first be launched in the Brazilian market. With Mercado Coin, customers will be able to make cashback purchases for their purchases through the e-commerce platform. Thus, the company plans to reward users’ behavior in the ecosystem. Mercado Libre users will then be able to use Mercado Coin for new purchases as well as exchange it on Mercado Pago, the company’s financial services unit.
https://twitter.com/marcos_galperin/status/156030716044189696
CEO and founder of Mercado Libre Marcos GalperinHe said on Twitter:
“Today we launched Mercado Coin in Brazil, further increased our loyalty program and took another step towards democratizing financial inclusion in Latin America.”
Mercado Coin, which has been made available to 500,000 customers, is expected to reach 80 million users by the end of August. The company also stated that it will soon make Mercado Coin available in other countries.
