Brazil’s Pix Expands Internationally as Mercado Libre Ends Token
- The Central Bank of Brazil plans to launch International Pix, enabling cross-border payments and remittances.
- Pix currently serves over 175 million users in Brazil and has processed nearly 200 billion transactions since November 2020.
- Mercado Libre ends its mercado coin program, initially launched in August 2022 as an ERC-20 asset on the Ethereum blockchain.
- Users can no longer buy, sell, or earn mercado coin after April 17, with remaining balances converted to local currency.
The Central Bank of Brazil’s move to internationalize Pix aims to streamline cross-border transactions, enhancing its already extensive domestic reach. Meanwhile, Mercado Libre’s decision to discontinue its token reflects challenges in gaining traction outside its ecosystem.
Pix’s expansion could influence global payment systems by integrating international transactions seamlessly, while the end of mercado coin highlights the volatility and adoption challenges within crypto-based loyalty programs.Source
