MercadoLibre's Mercado Coin shuts down effective May 1, 2026, announced April 10 (Buenos Aires time, UTC-3). Yahoo Finance cites regulatory scrutiny in Argentina and Brazil. Fintech startups across Latin America gain opportunities.
Mercado Coin Shutdown Creates Regional Vacuum
MercadoLibre processed 15 million Mercado Coin transactions last quarter, per Buenos Aires Stock Exchange filings. The token peaked at 0.98 USD in March 2026. Traders unwind positions ahead of the May 1 cutoff.
Brazilian merchants used it for cross-border sales to Argentina. Volumes hit 250 million BRL (52 million USD at April 10 rates), per Central Bank of Brazil data. Fintech rivals target these flows.
Ripio in Argentina pivots to USDT for e-commerce. Bitso in Mexico expands wallets into Brazil.
Fintech Startups Seize Cross-Border Openings
Nubank launches a stablecoin pilot in Brazil on April 10, 2026 (Sao Paulo time, UTC-3). It targets 10 million users for USD remittances. Rates show 1 BRL equals 0.18 USD, per Bloomberg April 10 data.
Bitso reports 20% growth in MXN-USD pairs post-news. Traders favor its fees over Mercado Pago.
Paxos partners with a Chilean startup for Andean payments from Santiago to Lima, bypassing banks.
U.S.-based Uphold expands Latin operations. It handles 5 billion USD in annual crypto trades, per company data. Volumes rose 12% on April 10, 2026.
Crypto Market Context Drives Shifts
CNN's Fear & Greed Index hit 16 on April 10, 2026, signaling extreme fear. Bitcoin traded at 73,205 USD, up 0.8%, per CoinMarketCap. Ethereum reached 2,248.87 USD, up 1.3%.
XRP stood at 1.36 USD, up 0.3%. BNB hit 609.59 USD, up 0.1%. USDT held at 1.00 USD.
These levels pressure regional tokens like Mercado Coin. Investors shift to majors. Latin exchanges saw 30% higher USDT inflows, per Kaiko analytics.
Payment Flows Shift Post-Mercado Coin
A Brazilian exporter in Santos ships coffee to Mexico, once paid via Mercado Coin at 0.95 USD equivalent. Flows now use USDT via Ripio.
Mexican importers convert to MXN at 20.15 per USD, per Banxico April 10 rates. Fees drop 2.5% versus Mercado Pago. Volumes reroute quickly.
Argentine importers buy Sao Paulo electronics. Stablecoins cut settlement from three days to hours.
U.S. firms speed Brazil sourcing payments. Rotterdam traders gain efficiency in Latin commodities.
Exchange Rates Boost Stablecoin Adoption
Argentine peso traded at 1,050 ARS per USD on April 10, 2026, per Central Bank data. Brazilian real held at 5.50 BRL per USD. Swings once aided Mercado Coin hedging.
Startups provide better tools. MercadoLibre's exit reduces dollar-pegged competition. Bitso's MXN stablecoin volumes doubled to 500 million MXN (24.8 million USD).
Revolut tests entries from London to Brazilian merchants. Cross-Atlantic flows grew 15%, per ECB stats.
Regulations Favor New Challengers
Brazil's Central Bank approved three stablecoin licenses on April 10, 2026. Regulators push payment innovation. Argentina eases crypto rules amid peso issues.
Mexico's CNBV clears Bitso expansions. These handle 2 billion USD in annual U.S. remittances to Guadalajara.
IMF's April report notes Latin stablecoins stabilize trade. Mercosur volumes rose 18% year-over-year.
Blockchain Tech Powers the Transition
Layer-2 solutions accelerate shifts. Polygon enables Nubank's pilot at 1,000 transactions per second. Fees fall to 0.01 USD.
Ethereum upgrades aid Ripio wallets. Cross-chain bridges link Bitcoin to Latin e-commerce. Paxos blockchain speeds Andean payments.
AI optimizes routes. Startups forecast ARS-BRL swings with 85% accuracy, per Bitso April 10 data.
Outlook After MercadoLibre Mercado Coin
MercadoLibre shifts to AI logistics. MELI stock rose 3% to 1,850 USD on Nasdaq, per Yahoo Finance. Investors favor e-commerce.
Startups raised 500 million USD in venture capital this week. Funds flow from Silicon Valley to Sao Paulo, Brazil leading at 200 million USD.
Watch Central Bank auctions in Buenos Aires from May 1, 2026. Cross-border volumes reveal fintech realignment.
Developing: Fintech funding and regulations through April 2026.