Businesses in the crypto-friendly country of Japan are now looking at ways to boost Bitcoin adoption. One of Japan’s largest e-commerce platforms Mercari stated that it will start accepting Bitcoin payments on its platform starting June 2024.

Mercari Subsidiary to Accept Bitcoin Payments

As reported by Nikkei, the company will facilitate Bitcoin transactions through its Tokyo-based cryptocurrency subsidiary, Melcoin.

Melcoin will be responsible for converting all Bitcoin payments into Japanese yen. This means that while buyers have the option to pay with BTC, vendors will receive the equivalent amount in fiat currency. Notably, Mercari will refrain from displaying prices in Bitcoin, maintaining the listing of items for sale in Japanese yen.

Despite not denoting prices in Bitcoin, customers will have the flexibility to select BTC as a payment method when conducting transactions on the Mercari platform. This move signals a notable embrace of cryptocurrency within the Japanese e-commerce landscape.

Established in 2013, Mercari has evolved into Japan’s largest community marketplace platform. As of July 2023, the company reported an impressive user base of 22 million monthly users. Mercari has also been actively expanding its footprint in international markets, with a particular focus on Europe.

In recent months, Mercari has ventured into the cryptocurrency space by introducing various crypto-related products. Notably, the company launched the Mercari Bitcoin crypto trading service. This service enables users to engage in the buying and selling of Bitcoin using the proceeds generated from their sales on the Mercari platform.

Furthermore, Mercari’s platform incorporates a loyalty points system, intricately linked to its crypto trading arm. This innovative integration allows Mercari users to exchange their accumulated loyalty points for Bitcoin, further bridging the gap between traditional e-commerce and the world of cryptocurrencies.

Japanese Businesses Offering Gateway for Crypto

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.