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Why have Nubank and Mercado Libre gone crypto?

E-commerce behemoth Mercado Libre launched its own cryptocurrency in August this year. Nubank, Latin America’s largest neobank, did the same last week. Having their origin as central components of loyalty or cashback programs, crypto can take customer-based monetization strategies further. But it requires brand appeal and a massive user base to carry the plan forward – characteristics that MeLi and Nu seem to have.

Technically, Mercado Coin (MCN) is a utility token that operates with ERC-20 technology on the Ethereum blockchain network. It is designed to be used over the internet (not in physical transactions), and its value can increase…

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