Mercari, which is one of the largest Japanese e-commerce platforms, will allow users to purchase its flea market app-listed products using Bitcoin (BTC) starting in June.
According to a Nikkei report, the e-commerce platform will facilitate Bitcoin transactions via its Tokyo-based crypto exchange subsidiary Melcoin.
The prices of listed items in the flea market app will be displayed in Japanese yen, with an option to pay in Bitcoin. Vendors and sellers will still receive the paid Bitcoin in local fiat currency, as the marketplace will convert the BTC through its exchange partner in real time.
Mercari is one of Japan’s largest consumer-to-consumer e-commerce marketplaces, with 22 million monthly users. The marketplace was launched in 2013 and, in five years, became the largest community-based e-commerce platform in the country, with a 94% usage rate. The platform posted a profit of 2.8 billion yen ($19.4 million) in the third quarter of 2023, and offering the option to pay in Bitcoin could encourage further adoption of BTC in the tech-savvy nation.
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Over the years, Mercari has embraced cryptocurrency on its platform. Recently, the firm launched the Mercari Bitcoin crypto trading service, which allows users to buy and sell BTC using proceeds from sales on the platform. The e-commerce giant’s loyalty program is crypto-centered as well, allowing users to swap their points for cryptocurrency.
Japan is considered a pro-crypto nation with better regulations for businesses to operate and offer their services to customers. This has helped e-commerce platforms to become gateways for crypto adoption in the country. Apart from Mercari, Rakuten — another prominent e-commerce platform — has also been pro-crypto for a long time, allowing users to convert loyalty points to crypto and developing a native nonfungible token platform.
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