Mercari Now Accepting Bitcoin Payments
Starting in June, users of Mercari, one of Japan’s largest e-commerce platforms, will have the option to pay for their purchases using Bitcoin (BTC). Although prices will still be displayed in yen, customers will be able to select Bitcoin as their payment method. Melcoin, a subsidiary of Mercari, will process all BTC payments, converting them into yen for the vendors. Furthermore, users will be able to buy and sell Bitcoin using the proceeds from their online sales.
A Natural Progression for Mercari
Mercari’s decision to accept BTC payments comes after the introduction of its BTC trading service last year and its recent achievement of 1 million users. Surprisingly, 80% of these users had no prior experience in crypto trading. The move to integrate BTC payments positions Mercari as a more popular option for Japanese users compared to its rival, Rakuten. A study by Mobile Marketing Data Labo revealed that 24.7% of new crypto users in 2023 preferred Mercari, while Rakuten only had 24.2%.
A Blow to Centralized Exchanges
Mercari’s BTC trading service is considered a significant blow to centralized exchanges like Bitflyer, which has experienced a drop in its market share to 11.3%. Mercari’s user-friendly interface and familiarity among Japanese users have made it a preferred choice for trading BTC.
Hot Take: Mercari Expanding Payment Options with Bitcoin
Mercari’s decision to accept Bitcoin payments is a strategic move that opens up more possibilities for its customers. By adding Bitcoin as a payment option, Mercari is catering to the growing interest in cryptocurrencies while maintaining its user-friendly approach. This development reflects the increasing acceptance and integration of cryptocurrencies in mainstream e-commerce platforms, providing customers with more flexibility and choice in their financial transactions. As Japan’s market continues to embrace cryptocurrencies, Mercari’s decision positions it as a leader in the industry and sets the stage for further adoption of digital assets in the country.
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