- Mercari to accept Bitcoin payments starting June.
- Melcoin to convert Bitcoin to JPY for transactions.
- Mercari expands globally, focusing on Europe.
Japan is a nation that is receptive to cryptocurrency, and its companies are currently exploring ways to enhance the use of Bitcoin
According to a report by Nikkei, the cryptocurrency subsidiary of the business, Melcoin, based in Tokyo, is responsible for handling Bitcoin transactions for the main company. Melcoin converts all Bitcoin payments into Japanese Yen (JPY), ensuring that sellers receive an equivalent amount in fiat currency to what buyers pay in Bitcoin.
Significantly, Mercari will maintain product prices in Japanese yen and not display prices in Bitcoin. However, the option to use Bitcoin for payment will be available to users, even though Mercari won’t list prices in the cryptocurrency. This move signifies the growing integration of cryptocurrencies within the e-commerce sector in Japan.
Promoting Greater Bitcoin Adoption
As of July 2023, the company boasts 22 million users on a monthly basis. Furthermore, Mercari is actively expanding its reach in international markets, with a particular focus on Europe.
Recently, Mercari has launched several products associated with cryptocurrency, signaling its foray into the crypto sector. Of particular significance, the company rolled out its Mercari Bitcoin trading platform.
Customers can use the earnings from their Mercari transactions to buy and sell Bitcoin. According to information from BTC Map, a company that tracks Bitcoin-accepting merchants, the global count of businesses listed as taking Bitcoin for payment has almost tripled in 2023.
At the start of 2023, 2,207 retailers accepted the digital currency, and by the year’s end, this figure had increased to 6,126.
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