Mercari’s Expansion into Crypto
The Japanese e-commerce giant Mercari has recently delved further into the world of cryptocurrencies by introducing Ethereum (ETH) trading services on its application. This move was unveiled to Mercari users on May 21, as reported by the Japanese media outlet CoinPost.
Mercari, often dubbed as Japan’s “biggest marketplace,” operates a platform similar to a “flea market,” akin to companies like eBay. In the past few years, Mercari has shifted its focus toward cryptocurrencies, establishing a crypto exchange that is seamlessly integrated into its marketplace app.
“In January, Mercari announced through its Tokyo-based crypto subsidiary Melcoin that it would start accepting Bitcoin (BTC) on its platform. Melcoin has successfully processed ‘over 100,000’ Bitcoin transactions on the platform,” revealed Mercari.
Initially, purchasers will have the option to pay in Bitcoin, while sellers will receive payments in yen. Prices will be exhibited solely in yen. Following the launch of Bitcoin trading services in March, Mercari has now expanded its offerings to include ETH as the second cryptocurrency available for trading.
The ETH rollout on the platform will occur in phases, aiming to provide Mercari users with the ability to purchase Ethereum using credit or debit cards, as well as the company’s loyalty points.
The Growing Interest in Ethereum
Google Trends data indicates a significant uptick in searches related to Ethereum in Japan since the beginning of the year. The interest in ETH has surged once again recently, attributed to speculations that the United States Securities and Exchange Commission may imminently approve spot Ethereum exchange-traded funds (ETFs).
“Mercari’s foray into cryptocurrencies highlights the shifting landscape of digital transactions and the increasing popularity and acceptance of cryptocurrencies among consumers,” stated industry analysts.
