Latam Giant Mercado Libre Launches Mercadocoin in Brazil – News Bitcoin News

Mercado Libre, a leading e-commerce company in Latin America, has announced the launch of its token, called “Mercadocoin” for Brazilian customers. The token will be the main reward for the loyalty program on the Mercado Libre platform and will be given to customers who purchase certain items associated with the token. The token will have an initial value of $0.10.

Mercado Libre Launches Mercadocoin Token for Strong Loyalty Program

Mercado Libre, LATAM’s unicorn retail and financial services retailer, has announce Inclusion of cryptocurrency as part of its equity program. The company announced the launch of its token, called Mercadocoin, which will be used to run its rewards for users. The token, which will be issued on top of Ethereum, will be awarded to users who purchase certain articles on the selected Mercado Libre platform with the loyalty program.

The program, which is already underway, will only include Brazilian customers, although the company aims to expand it to other countries in Latin America. However, Mercado Libre did not provide any details regarding this expansion. This initial phase will only involve 500,000 people, but it aims to reach the full 80 million customers before September.

Code details

Mercadocoin will be launched at $0.10 first, after which the company will allow it to float in the market. While Mercado Libre has no plans to list the new token on offshore exchanges, it is an ERC-20 token, and parallel markets can be funded on various decentralized exchanges such as Uniswap.

Reuters explain This token initiative seeks to improve the situation faced by the e-retail giant in Brazil, as it faces fierce competition from foreign start-ups such as Alibaba and Sea Ltd, whose sales figures have increased exponentially.

The mercadocoin token will have two different uses: it will serve as a means of paying for articles on the platform, and users will also be able to integrate with Mercado Pago’s trading services, exchanging them for other crypto assets.

Mercado Libre’s crypto foray began last year, with the company launching trading services in November in Brazil. The company announced this month that it will extend these commercial services to more countries in Latin America.

Marcus Galperin, founder of Mercado Libre, is also a staunch believer in cryptocurrency, after declaring that bitcoin is a better store of value than gold, but is skeptical about its use because of the power needed to send or receive bitcoin.

What do you think of the new Mercado Libre rewards code? Tell us in the comments section below.

Sergio Goshchenko

Sergio is a crypto journalist based in Venezuela. Describing himself as a latecomer, he got into the crypto world when the price spike occurred during December 2017. Having a background in computer engineering, living in Venezuela, and influenced by the crypto-currency boom on a social level, he offers a different perspective on the success of crypto and how it helps the people who They do not deal with banks and the underprivileged.

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