Report: Japan’s E-Commerce Giant Mercari to Accept BTC Payments

Share This Post

Starting in June, users of Mercari, one of Japan’s biggest e-commerce platforms, will be able to pay for products using bitcoin. Users of the platform will also be able to use proceeds from sales to buy and sell bitcoin.

Mercari Set to Continue Displaying Yen Prices

One of Japan’s biggest online marketplaces, Mercari, has announced that soon its customers will be able to make payments using Bitcoin (BTC). Although Mercari is expected to continue displaying prices in yen, starting in June, its customers will be able to select the crypto asset when making payments.

According to a Nikkei report, Melcoin, a subsidiary of the online commerce giant, is set to process all payments made via BTC. This means vendors will only receive their payments in the form of yen. In addition, users will be able to buy and sell BTC using proceeds from online sales.

Mercari’s pivot to BTC payments comes almost a year after it launched a BTC trading service and more than three months after it reportedly hit the 1 million users milestone. The milestone was achieved as Mercari confirmed that some 80% of its crypto users had no previous crypto trading experience.

Despite being the new kid on the block, Mercari’s BTC trading service is already viewed more favorably by Japanese users than its rival Rakuten. As the findings of a study conducted by Mobile Marketing Data Labo show, 24.7% of the respondents who began using crypto in 2023 said they prefer using Mercari, compared to Rakuten’s 24.2%.

Meanwhile, some have described Mercari’s BTC trading service as a major blow to centralized crypto exchanges like Bitflyer, which has seen its share of the market drop to 11.3%.

What are your thoughts on this story? Let us know what you think in the comments section below.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Profit Taking Relatively Muted Amid $93K Rally – Can BTC Climb Higher?

Bitcoin (BTC) recently reached a new all-time high (ATH) of $93,477, as the leading digital asset inches closer to the highly anticipated $100,000 target Notably, the ongoing price rally has seen

Bitcoin Price Holds The Line: Is Another Surge Possible?

Bitcoin price saw a short-term correction from the $93,450 zone BTC is now consolidating gains near $87,000 and might attempt another increase in the near term Bitcoin started a downside correction

Former SEC Chair Expects Pro-Crypto Shift in Trump Administration

Former SEC chairman predicts Trump’s administration could drive crypto-friendly legislation, easing regulatory constraints and fostering innovation within the digital asset industry SEC Shake-Up:

Dogecoin Price To $3, XRP To $5, And PNUT To $5? Analyst Shocks Crypto With 12-Month Forecast

Bullish sentiment is at its peak and crypto market participants are projecting a continued upside for the Dogecoin pice in the coming weeks and months According to crypto analyst Ash Crypto, the

$150K Bitcoin: Scaramucci Sees Trump Depoliticizing Crypto, Fueling BTC’s Next Surge

Skybridge Capital’s founder predicts bitcoin could reach $150,000 with eased regulations, noting that the Trump administration’s approach could help depoliticize crypto policy Can

XRP Price Will Escalate To $1.03 This Week If This Happens: Analyst

In a new analysis, crypto analyst Dark Defender (@DefendDark) highlights a significant pattern in the daily XRP/USDT chart that suggests a possible sharp rise in the price of XRP According to his