In an endeavor to broaden its payment options, Mercari, Japan’s prominent online marketplace, is set to incorporate Bitcoin (BTC) as a viable payment method by June 2024, as reported by Nikkei, a renowned Japanese media outlet.
The plan entails integrating Bitcoin into Mercari’s payment gateway, enabling users to finalize purchases using the cryptocurrency. Additionally, Mercari will allow the conversion of loyalty points into Bitcoin, bridging its primary platform with Melcoin, its fintech subsidiary that offers digital currency trading services.
Renowned for its trade in second-hand goods, Mercari has amassed a sizable user base of 22 million monthly customers in Japan since its establishment in 2013. Despite its current success, the platform aims to bolster its global presence while catering to users inclined toward cryptocurrency.
Mercari has been actively exploring crypto-related offerings, having launched the Mercari Bitcoin service in October 2023. This service empowers users to trade Bitcoin using the proceeds from their Mercari sales.
By integrating Bitcoin as a payment option, Mercari aims to augment the usage and adoption of crypto assets within Japan. Simultaneously, the company strives to enhance user convenience and satisfaction across its platform.
This strategic move aligns with the ongoing global trend infiltrating Japan’s e-commerce domain. Rakuten, a prominent e-commerce entity, notably introduced a program in March 2021, allowing customers to exchange Rakuten Points for cryptocurrencies, including Bitcoin.
Japan has witnessed growing interest in cryptocurrencies amidst a dynamic regulatory landscape. A recent Triple-A report revealed that approximately 5 million Japanese residents, constituting 4% of the country’s population, actively engage as cryptocurrency owners, underlining the burgeoning interest in digital assets within the nation.
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