Japan’s largest community e-commerce platform to start accepting Bitcoin this year

2024-01-08 02:54:53

Mercari, a leading online community marketplace in Japan, plans to introduce Bitcoin (BTC) as a payment option for its platform users by June 2024, a report from Japanese media outlet Nikkei confirms.

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 purchase. In addition, Mercari will allow users to convert their loyalty points to Bitcoin, linking its main platform with its digital currency trading service.

As one of Japan’s top online shopping platforms, the development allows users to transact with Bitcoin via the app, with prices still in yen, while leveraging the digital currency trading services provided by Melcoin, Mercari’s fintech subsidiary.

Mercari, which began in 2013, is Japan’s biggest platform for second-hand goods, with a user base of 22 million customers per month as of last July. Despite its wide reach, the company is currently looking to expand its presence in the global scene, and appeal to its crypto-inclined users.

Mercari has been focusing on its crypto-related products in the past few months, launching the Mercari Bitcoin service in October 2023. This service enables users to trade Bitcoin with the money they earn from selling their items on Mercari.

By adding Bitcoin as a payment option, Mercari could increase the use and adoption of crypto assets in Japan. At the same time, the company strives to improve user satisfaction and ease on its platform.

This recent initiative aligns with a global trend that has permeated the Japanese e-commerce landscape. Notably, in March 2021, the prominent e-commerce platform Rakuten introduced a program enabling customers to exchange their Rakuten Points for cryptocurrencies, including Bitcoin.

Residents in Japan have displayed heightened interest in cryptocurrencies, especially within a dynamic regulatory environment. A recent Triple-A report revealed that approximately 4% of the country’s population, equivalent to 5 million Japanese residents, are cryptocurrency owners.

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