- Mercari, a major Japanese e-commerce giant, has revealed plans to incorporate Bitcoin payments in June
- Mercari will leverage its Tokyo-based subsidiary, Melcoin, to process Bitcoin payments on its platform
- Founded in 2013, Mercari has evolved into a key player in Japan’s e-commerce landscape
E-commerce giant Mercari has announced that it will integrate Bitcoin payments in June this year, marking a significant development in the growing acceptance of cryptocurrencies in mainstream use. According to a report from Nikkei, Mercari will facilitate Bitcoin payments through its Tokyo-based cryptocurrency subsidiary, Melcoin. Founded in 2013, Mercari is a significant player in the Japanese e-commerce market, becoming one of the largest online marketplaces in the country, making this a very exciting development.
Mercari is No Small Deal
Westerners may not know about Mercari, but Asians almost certainly will. Mercari allows users to buy and sell a wide range of products, including electronics, fashion items, and other goods, with its prominence in Japan reflected in its user base and high transaction volume.
The impact of this announcement extends beyond Mercari’s immediate user base; as one of the country’s major e-commerce players, Mercari’s adoption of Bitcoin could potentially encourage other businesses to explore cryptocurrency payment options too. The platform’s decision to add Bitcoin payments shows evolving preferences within the region and a desire to appeal to a new type of customer.
Instant Fiat Transactions
While customers can choose Bitcoin as a payment method during purchases, vendors will ultimately receive their funds in fiat currency, with Melcoin acting as the intermediary for Bitcoin transactions. Melcoin will convert all received BTC payments into Japanese yen at the time of purchase, ensuring a seamless experience for both buyers and sellers on the platform and mitigating potential volatility concerns associated with cryptocurrencies.
Mercari will still list items for sale in yen, but users will simply be given the option to pay with Bitcoin through Melcoin. By incorporating Bitcoin payments, Mercari is not only responding to the growing demand for digital currency transactions but is also positioning itself as a pioneer in the Japanese e-commerce landscape.
