Ecommerce Giant MercadoLibre Launches its Own Cryptocurrency MercadoCoin in Brazil

Mercadolibre has invested in Bitcoin and crypto companies. Now it will have its own crypto: Mercadocoin. On August 18, MercadoLibre Inc, a multinational e-commerce company based in Latin America, announced the creation of a new cryptocurrency called MercadoCoin, which will be implemented in its loyalty program. As reported by Reuters, the cryptocurrency will run on the Ethereum network as an ERC-20 token priced at $0.10 each. It will be used primarily for cashback and purchases inside MercadoLibre’s platform.