Brazil’s Pix Goes Global & Mercado Libre Kills Mercado Coin – You Won’t Believe This!

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Welcome to Latam Insights, where we dive into the most thrilling crypto news from Latin America! Grab your popcorn, because in this edition, the Central Bank of Brazil is considering going global with Pix, Mercado Libre decides to retire Mercado Coin (because, why not?), and Pix suddenly gets all political right before Brazil’s presidential elections. Fun, right?

Key Takeaways:

  • Brazil’s Central Bank is planning to make Pix international. Yes, the payment system used by 175 million Brazilians is going global.
  • Mercado Libre shuts down Mercado Coin. The unused ERC-20 token will convert to local fiat on April 17. Yikes.
  • USTR warns Pix might take down the big dogs like Visa. 175 million Pix users could sway Brazil’s next presidential election! Seriously.

Defying US Criticism, Brazil Mulls Pix’s Globalization

Oh, here we go. The Central Bank of Brazil is ready to take Pix – yes, the ubiquitous payment system that most Brazilians use like their daily coffee – and go international. Is this a good idea? Who knows! But at least it’ll give the 175 million users something to play with, right?

According to local media, they’re planning to launch International Pix. That’s right, folks. Cross-border payments using Pix. So you can pay your buddy in Portugal just as easily as you can buy a bunch of snacks at your local Brazilian store.

Pix already works in Argentina, the U.S., and Portugal. But now, it could be a permanent fixture, streamlining payments across nations. How fun is that? The system has processed over 200 billion transactions since it launched in 2020. Yeah, you heard that right. Billion with a B.

Mercado Libre Ends Mercado Coin Program, Cites No Official Reason

Mercado Libre, in a move that screams “we’re done with this,” has decided to end Mercado Coin. Why? Who knows? No official statement, no big press release. Just a simple email. A digital wallet message saying “we’re outta here.”

Mercado Libre launched Mercado Coin in 2022. It was an ERC-20 token on the Ethereum blockchain, built in partnership with crypto exchange Ripio, and it was priced at about $0.10 per coin. But it never really caught on. The token was supposed to get people into crypto without the hassle of buying actual crypto or dealing with all the volatility. Instead, it just stayed stuck in Mercado Libre’s ecosystem. Big surprise there.

Starting April 17, if you hold Mercado Coin, well, too bad. You can no longer buy, sell, or earn it. But hey, you have three options: sell it, spend it on Mercado Libre, or just let it sit there and do nothing. After the deadline, it’ll convert into local currency (Brazilian reais), because that’s what we all really wanted in the first place, right?

How Brazil’s Instant Payment Network Pix Might Influence the Presidential Election

Now, let’s get political. Yes, the payment system, Pix, has suddenly become a political issue in Brazil. Why? Well, because it’s everywhere – and that’s kind of a big deal when it comes to elections.

Pix has over 175 million users, and the United States Trade Representative (USTR) is getting a bit twitchy. They’re concerned that the Brazilian Central Bank is playing favorites with Pix, and that could hurt U.S. payment giants like Visa and Mastercard. Shocking, right? The U.S. is worried about losing in the payments game.

In a report, the USTR said that the Central Bank is pushing Pix so hard that it’s forcing financial institutions with over 500,000 accounts to use it. You know, just casual little things like that. Meanwhile, Visa and Mastercard are pushing to level the playing field. Who’s gonna win? Well, as they say in politics – only time will tell. But Pix might just make or break the upcoming election.

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2026-04-06 07:27