Japanese E-commerce Giant Mercari Expands into Ethereum Trading
Mercari, the leading e-commerce platform in Japan, has taken a further step into the world of cryptocurrencies by introducing Ethereum (ETH) trading services on its app. This new feature was unveiled to Mercari users on May 21, according to Japanese media outlet CoinPost.
Mercari, often referred to as Japan’s “biggest marketplace,” operates a flea market-style platform similar to eBay. In recent years, the company has shown a growing interest in cryptocurrency. It has already launched a crypto exchange that is integrated with its marketplace app.
The crypto exchange has been successful so far, with a survey conducted last year revealing that new Japanese crypto users were more inclined to use Mercari’s or its e-commerce rival Rakuten’s crypto exchanges, rather than those of more established players in the industry.
In January, Mercari made another crypto-related announcement through its Tokyo-based crypto subsidiary Melcoin. The company revealed that it would start accepting Bitcoin (BTC) on its platform. Melcoin processes BTC payments made on the Mercari platform, and it has already completed over 100,000 Bitcoin transactions.
Initially, Mercari will allow buyers to pay with Bitcoin, but vendors will receive payment in yen. Prices will also be displayed in yen only. Bitcoin trading services were launched on the Mercari app in March, and now ETH has become the second coin to be added.
The rollout of Ethereum trading on the Mercari app will be done gradually, and users will have the option to purchase Ethereum using credit or debit cards, as well as the company’s own loyalty points.
According to Google Trends data, there has been a significant increase in searches related to Ethereum in Japan over the past year. Interest in ETH has surged again in recent days, possibly due to reports suggesting that the United States Securities and Exchange Commission is considering approving spot ETH exchange-traded funds (ETFs).
Mercari’s expansion into Ethereum trading reflects the company’s continued efforts to tap into the growing crypto market. With millions of users already utilizing its BTC trading services, Mercari aims to cater to the increasing demand for cryptocurrencies in Japan and provide its users with more diverse options for conducting transactions on its platform.
