Some interesting news out of $MELI this week...

After some other e-commerce businesses like $SE saw strong adoption in Brazil, MercadoLibre announced that it will be creating MercadoCoin "which will be implemented in Brazil as part of its loyalty program," as a sort of cashback. Importantly, MercadoCoin will ONLY be able to be traded on Pago (MELI's fintech platform). What does this mean? Not sure yet (let's hear your thoughts below), but I see this as a way to increase stickiness between Pago and MercadoLibre users. First, it's an incentive to use MELI over Shopee (SE's e-commerce service) or AliExpress, as you can get cashback. However, it can also increase the adoption of Pago, which has been fast-growing as of late. I'm not sure how this will play out, but it will surely be interesting.