Meli Dólar stablecoin (MUSD)

A dollar-backed stablecoin that MercadoLibre offers to its users inside the Mercado Pago app. The company uses it to pay rewards and to give users a dollar-linked balance in markets with volatile local currencies.

Why it matters to the stock. Stablecoin rails could cut the cost of cross-border payments and give the company a dollar product. It is still small compared with the core payment business, so it matters more as an option than as a revenue line.