Japanese E-commerce Giant Mercari Expands into Ethereum Trading
Mercari, the leading e-commerce platform in Japan, has made another move into the world of cryptocurrency by launching Ethereum (ETH) trading services on its app. According to CoinPost, the service was introduced to Mercari users on May 21.
Mercari is known as Japan’s “biggest marketplace” and operates a platform similar to eBay’s flea market. In recent years, the company has shown a strong interest in crypto and has even launched its own crypto exchange integrated with its app.
The exchange has already gained popularity, with a survey last year revealing that new Japanese crypto users preferred to use Mercari’s exchange or its e-commerce rival Rakuten’s platform over those of more established crypto players.
Earlier this year, Mercari’s Tokyo-based crypto subsidiary Melcoin announced that it would start accepting Bitcoin (BTC) on its platform. Melcoin has successfully processed over 100,000 Bitcoin transactions on the platform. Initially, buyers can pay in Bitcoin, but vendors will receive yen, and prices will be displayed in yen as well.
Mercari introduced Bitcoin trading services on its app in March, and now it has added ETH as the second cryptocurrency available for trading. The rollout of ETH trading will be done gradually, and Mercari users will be able to purchase Ethereum using credit or debit cards, as well as the company’s own loyalty points.
According to Google Trends, there has been a significant increase in searches related to Ethereum in Japan over the past year. Interest in ETH has spiked again recently, possibly due to reports suggesting that the United States Securities and Exchange Commission is considering approving spot ETH exchange-traded funds (ETFs).
Mercari’s expansion into Ethereum trading reflects its commitment to becoming a prominent player in the cryptocurrency market. With its user-friendly platform and growing number of crypto services, Mercari is well-positioned to capitalize on the increasing interest in digital assets.