Japan: Mercari Set to Enable Bitcoin Purchases for 22 Million Monthly Users by June
In a groundbreaking move set to revolutionize the world of e-commerce, Mercari, Japan’s renowned digital flea market platform boasting over 22 million monthly active users, has announced plans to integrate bitcoin as a payment option. According to Nikkei, this revolutionary feature is scheduled to be rolled out by June this year.
This seismic shift towards embracing cryptocurrencies comes after Mercari’s earlier move in March 2023, when it launched its own bitcoin exchange. This exchange enabled users to purchase bitcoin directly through the app using various sources like their bank account balances, sales proceeds, and even free points accumulated from selling activities within the platform.
The upcoming integration of bitcoin as a payment method marks a significant milestone for Mercari, distinguishing it as one of the first major e-commerce services in Japan to directly accept bitcoin for transactions. This bold move not only reflects the platform’s commitment to innovation but also signals a broader acceptance of cryptocurrencies in mainstream commercial transactions.
The mechanism for bitcoin payments will be facilitated through Mercari’s Tokyo-based blockchain subsidiary, Melcoin. Although the product prices will continue to be displayed in Japanese yen, users will have the unprecedented convenience of utilizing the world’s largest cryptocurrency by market capitalization, bitcoin, to complete their purchases within the app.
This development has garnered attention and acclaim within the industry, with experts highlighting the rarity of direct bitcoin payments within a prominent domestic e-commerce service. Mercari’s decision to leverage its own bitcoin exchange and subsequently incorporate it as a payment option within their platform underscores their proactive approach to catering to evolving consumer preferences and technological advancements.
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