Mercari, Japan’s E-commerce Giant, to Accept Bitcoin Payments in June

Mercari, one of Japan's largest e-commerce platforms, announces acceptance of Bitcoin (BTC) starting June this year.

Japanese e-commerce giant Mercari will start accepting Bitcoin as a form of payment.

📷 Source: vladim_ka/Adobe

In a bold move, Mercari, one of Japan’s largest e-commerce platforms, has announced that it will begin accepting Bitcoin (BTC) as a payment method starting in June of this year. This decision comes as part of the company’s efforts to embrace cryptocurrency and tap into the growing popularity of digital assets.

Bitcoin Payments Made Possible by Melcoin

According to a report from Nikkei, Mercari will process Bitcoin payments through its Tokyo-based crypto subsidiary, Melcoin. The platform will convert all BTC payments into Japanese yen, allowing buyers to choose Bitcoin as a payment method while ensuring that sellers receive fiat currency.

While Mercari will not display prices in Bitcoin, customers will have the option to select BTC as their preferred payment method when making purchases on the website. This move not only opens up new opportunities for Bitcoin users in Japan but also highlights the growing acceptance of cryptocurrencies in mainstream e-commerce.

Bitcoin prices versus Japanese yen over the past month Bitcoin prices versus the Japanese yen over the past month. (Source: BitFlyer)

Mercari’s Expansion into Cryptocurrency

Founded in 2013, Mercari has established itself as Japan’s premier community marketplace platform. With 22 million monthly users as of July 2023, the company is now looking to expand its presence in overseas markets, including Europe.

In recent months, Mercari has been actively involved in the crypto space, launching various crypto-related products and services. This includes the Mercari Bitcoin crypto trading service, which allows users to buy and sell Bitcoin using the proceeds from their sales on the platform. Additionally, Mercari has integrated its loyalty points system with its crypto trading arm, enabling users to exchange their points for Bitcoin.

Mercari and Rakuten: Japan’s “Bitcoin Gateways”

Both Mercari and Rakuten, another leading Japanese e-commerce platform, have become key players in the adoption of Bitcoin and cryptocurrencies in Japan. Rakuten has been involved in the crypto space even longer than Mercari, operating its own crypto trading service called Rakuten Wallet.

In a recent survey, conducted at the end of 2022, it was found that a significant number of Japanese individuals who started trading coins chose either Mercari’s Bitcoin Trading app or Rakuten Wallet platform over traditional crypto exchanges. This includes users who had no prior experience with cryptoasset trading, signifying the ease of access and user-friendly interface provided by these e-commerce giants.

Q&A

Q: Why is Mercari’s decision to accept Bitcoin significant? A: Mercari’s acceptance of Bitcoin payments demonstrates a growing acceptance of cryptocurrencies in mainstream e-commerce. It provides an opportunity for Bitcoin users in Japan to utilize their digital assets for online purchases.

Q: Will Mercari display prices in Bitcoin? A: No, Mercari will continue to list prices in Japanese yen. However, customers will have the option to select Bitcoin as a payment method during the checkout process.

Q: What other crypto-related products does Mercari offer? A: In addition to the Bitcoin trading service, Mercari has integrated its loyalty points system with its crypto trading arm, allowing users to exchange their points for Bitcoin.

Q: What is the impact of Mercari and Rakuten in the crypto space? A: Mercari and Rakuten have become popular “Bitcoin gateways” in Japan, attracting users who are new to cryptoasset trading. Their user-friendly interfaces make it easy for individuals to start trading and investing in cryptocurrencies.

Future Outlook and Investment Recommendations

As Mercari and Rakuten continue to expand their presence in the crypto space, their role as “Bitcoin gateways” is likely to solidify. This increased adoption and acceptance of cryptocurrencies in mainstream e-commerce could have positive implications for the overall market.

Investors looking to capitalize on this trend may consider diversifying their portfolios to include Bitcoin and other digital assets. With the support of established e-commerce platforms like Mercari and Rakuten, the reach and accessibility of cryptocurrencies are expanding, making them an attractive investment option.

🔗 References:

[1] Japan’s Crypto Newbies Flock to Mercari and Rakuten Wallet: Survey

[2] Bitcoin Price Pumps Towards $45,000 as Reporter Claims SEC to Approve Multiple BTC ETF Applications

[3] Start Investing in Cryptocurrencies in 2024

[4] Image Source

[5] Image Source

Feel free to share this article with your friends and followers on social media to spread the word about Mercari’s new Bitcoin payment feature. Let’s embrace the future of e-commerce and digital assets together!

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