Japanese e-commerce titan Mercari has broadened its cryptocurrency offerings by integrating Ethereum (ETH) trading into its popular marketplace app, marking a significant expansion in its crypto services. The service, which became available to Mercari users on May 21, aligns with the company’s strategic push into the digital currency space, reported by Japanese media outlet CoinPost.
Mercari, renowned as Japan’s largest online marketplace, has likened to a “flea market” platform similar to eBay, and has steadily shifted towards embracing cryptocurrencies. This move follows the successful launch and integration of a crypto exchange within its app, appealing particularly to the burgeoning number of new crypto users in Japan. According to a survey from last year, these new users are increasingly opting for the Mercari platform over more traditional, crypto-specific exchanges.
In January, Mercari, through its Tokyo-based crypto subsidiary Melcoin, initiated Bitcoin (BTC) transactions on its platform. This feature allows buyers to make purchases using Bitcoin, although vendors receive the equivalent in yen, and all prices are displayed in yen. Melcoin has already facilitated over 100,000 Bitcoin transactions, demonstrating a robust adoption among its users.
Following the integration of Bitcoin trading in March, Ethereum is the second cryptocurrency to be featured on Mercari’s platform. The company plans a phased rollout for Ethereum, offering users the flexibility to purchase ETH using credit or debit cards or through Mercari’s loyalty points system.
The introduction of Ethereum trading comes at a time when interest in Ethereum has surged in Japan, as evidenced by Google Trends data indicating a sharp increase in searches for Ethereum over the past year. This peak in interest is timely, coinciding with growing speculation that the United States Securities and Exchange Commission might approve spot ETH exchange-traded funds (ETFs) soon.
Mercari’s proactive expansion into the cryptocurrency market not only diversifies its service offerings but also enhances its competitive edge in the e-commerce sector. By making cryptocurrencies more accessible to its vast user base, Mercari is setting a precedent for other e-commerce platforms globally and contributing significantly to the mainstream adoption of digital currencies in Japan.
