what's Meli Dólar?

Meli Dólar (MUSD) is a stablecoin designed to maintain a 1:1 peg with the US dollar, issued by Meli ISAC Ltd., a Bermuda-regulated segregated accounts company within the Mercado Libre ecosystem. Fully backed by high-quality USD-denominated liquid assets such as cash equivalents, short-term US Treasury bills, and money market funds held in segregated, bankruptcy-remote reserves, it undergoes monthly transparency audits. Deployed on the Ethereum and Polygon blockchains, MUSD leverages their security, smart contract capabilities, and scalability for reliable transactions. Accessible primarily through the Mercado Pago app in Latin American markets like Brazil, Mexico, and Chile, users can buy, sell, hold, and use MUSD for payments on Mercado Libre (full or partial, with cashback for Meli+ subscribers). It supports free transfers within the ecosystem, external wallet compatibility, and direct 1:1 redemptions minus fees. Custodied by partners like Ripio or Moonbird, it prioritizes stability for hedging inflation/volatility over speculation, integrating fiat on-ramps for seamless adoption.

Meli Dólar is a dollar-backed stablecoin by Mercado Libre, replacing Mercado Coin.