Japan’s largest community e-commerce platform starts accepting Bitcoin this year
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Japanese media “Nikkei” confirmed that Mercari, Japan’s leading online community market, plans to launch Bitcoin (BTC) as a payment option for its platform users by June 2024.
according to a Report In Japan’s Nikkei, Mercari, an online community and marketplace, will allow users to pay with Bitcoin at the final stage of their purchase. Additionally, Mercari will allow users to convert their loyalty points into Bitcoin, connecting its main platform with its digital currency trading services.
One of Japan’s top online shopping platforms, the development allows users to transact using Bitcoin via the app, with prices still in Japanese yen, while leveraging digital currency trading services provided by Mercari’s fintech subsidiary Melcoin.
Founded in 2013, Mercari is Japan’s largest second-hand goods platform, with 22 million monthly users as of July last year. Despite its broad reach, the company is currently looking to expand its presence on the global stage and attract its crypto-inclined users.
Mercari has been focusing on its cryptocurrency-related products in the past few months and launched the Mercari Bitcoin service in October 2023. The service enables users to trade Bitcoin with money earned from selling items on Mercari.
By adding Bitcoin as a payment option, Mercari can increase the use and adoption of crypto assets in Japan. At the same time, the company strives to improve user satisfaction and convenience on its platform.
This latest move is in line with global trends permeating Japan’s e-commerce space. Notably, in March 2021, well-known e-commerce platform Rakuten launched a program that enables customers to exchange Rakuten points for cryptocurrencies including Bitcoin.
Japanese residents have shown strong interest in cryptocurrencies, especially amid the dynamic regulatory environment. Recent 3A Report It was revealed that approximately 4% of the country’s population (equivalent to 5 million Japanese residents) are cryptocurrency holders.
