Mercari, Japan’s famous digital second-hand sales platform with more than 22 million monthly active users, has made a groundbreaking move that will revolutionize the e-commerce world. Zira announced plans to integrate the cryptocurrency Bitcoin as a payment option. According to Nikkei, this revolutionary feature is planned to be available by June this year.
Mercari enters the cryptocurrency space
This jarring shift towards embracing cryptocurrencies follows Mercari’s previous move in March 2023, when it launched its own bitcoin exchange. This exchange allowed users to purchase Bitcoin directly through the app using a variety of sources, such as their bank account balance, sales proceeds, and even free points accumulated from sales activities on the platform. The upcoming integration of Bitcoin as a payment method marks a major milestone that sets Mercari apart as one of the first major e-commerce services to directly accept Bitcoin for transactions in Japan.
This bold move not only reflects the platform’s commitment to innovation, but also signals broader acceptance of cryptocurrencies in mainstream commercial transactions. The mechanism for Bitcoin payments will be facilitated through Melcoin, Mercari’s Tokyo-based blockchain subsidiary. While product prices will continue to be displayed in Japanese yen, users will experience the unprecedented convenience of using the world’s largest cryptocurrency by market cap to complete in-app purchases.
How will the payments be made?
This development attracted attention and appreciation in the industry; Experts emphasized that direct Bitcoin payments are rare on a leading local e-commerce service. Mercari’s decision to use their own Bitcoin exchange and then include it as a payment option on their platform is critical. Because it points to their tendency to serve evolving consumer preferences and technological developments. While Mercari has garnered attention in adopting cryptocurrency payments, industry experts predict that other major e-commerce platforms will follow suit, recognizing the growing demand for alternative payment methods.
This move not only aligns with the global trend in cryptocurrency adoption, but also positions Mercari as a leader in technological innovation in the Japanese e-commerce landscape. Ultimately, Mercari’s integration of Bitcoin as a payment option is evidence of its plans to deliver cutting-edge solutions for its user base. With the anticipated launch in June, Mercari is poised to redefine the e-commerce landscape in Japan and set a precedent for the integration of cryptocurrencies into mainstream business transactions.
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