Mercari to Introduce Bitcoin as Payment Option for Users
Mercari, a leading online community marketplace in Japan, plans to allow users to pay with Bitcoin on its platform by June 2024. The move aims to increase the use and adoption of crypto assets in Japan while improving user satisfaction. Mercari will also enable users to convert their loyalty points into Bitcoin, linking its main platform with its digital currency trading service provided by Melcoin, Mercari’s fintech subsidiary.
Mercari’s Focus on Crypto Products
Mercari has been focusing on crypto-related products in recent months. It launched the Mercari Bitcoin service in October 2023, allowing users to trade Bitcoin using the money they earn from selling items on Mercari. This initiative aligns with a global trend in the Japanese e-commerce landscape, following Rakuten’s introduction of a program that allows customers to exchange their Rakuten Points for cryptocurrencies, including Bitcoin.
Increased Interest in Cryptocurrencies in Japan
Residents of Japan have shown heightened interest in cryptocurrencies, particularly within a dynamic regulatory environment. Approximately 4% of the country’s population, equivalent to 5 million Japanese residents, are cryptocurrency owners according to a recent Triple-A report.
Hot Take: Expanding Crypto Adoption in Japan’s E-commerce Landscape
Mercari’s decision to introduce Bitcoin as a payment option is an important step towards expanding crypto adoption in Japan’s e-commerce landscape. By allowing users to transact with Bitcoin and offering the option to convert loyalty points into the digital currency, Mercari aims to cater to its crypto-inclined users while attracting new customers. This move follows similar initiatives by other prominent e-commerce platforms in Japan and reflects the growing interest in cryptocurrencies among the country’s population. As more platforms embrace crypto, Japan is poised to become a significant player in the global crypto market.
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