Mercari, one of Japan's leading e-commerce platforms, announced that it will start accepting Bitcoin (BTC) payments as of June this year. This move is seen as a significant step in the adoption of cryptocurrencies in the Japanese e-commerce industry.
Japan's E-commerce Giant Mercari is Preparing to Accept Bitcoin Payments
The company will process Bitcoin payments through its Tokyo-based crypto subsidiary Melcoin.
All BTC payments will be converted to Japanese yen, so buyers will have the option to pay with BTC, while sellers will receive fiat currency.
However, the firm will not list prices in Bitcoin and products will continue to be priced in fiat Yen.
Founded in 2013, Mercari has become Japan's largest community marketplace platform. The company, which reports that it has 22 million monthly users as of July 2023, is actively trying to establish a presence in foreign markets, including Europe.
In an effort to integrate cryptocurrencies into its operations, Mercari has launched several crypto-related products in recent months.
These include the Mercari Bitcoin crypto trading service, which allows users to buy and sell Bitcoin using the proceeds from their sales on the platform.
The platform also includes a membership points system linked to its crypto trading arm, which allows Mercari users to exchange their points for Bitcoin.
The company announced that its Mercari Bitcoin trading service surpassed the 1 million user mark in October, just seven months after its launch.
*This is not investment advice.