Dollar stablecoin (Meli Dólar, MUSD)

Meli Dólar (MUSD) is a US dollar stablecoin issued by Mercado Libre, the Nasdaq-listed Latin American marketplace, and launched on 21 August 2024 for Mercado Pago users in Brazil, built with the Argentine crypto exchange Ripio. Mercado Libre's own site says it runs on Ethereum, is backed one to one by liquid assets held in bankruptcy-remote reserves with monthly audits, and can be sent to outside wallets and exchanges. It is bought and sold in the Mercado Pago app in Brazil and Mexico, accepted at Mercado Libre's checkout and paid as cashback to Meli+ subscribers. Mercado Libre closed its earlier loyalty token, Mercado Coin, on 17 April 2026 and kept Meli Dólar.