Skip to main content

Report: Japan’s E-Commerce Giant Mercari to Accept BTC Payments

Starting in June, users of Mercari, one of Japan’s biggest e-commerce platforms, will be able to pay for products using bitcoin. Users of the platform will also be able to use proceeds from sales to buy and sell bitcoin.

Mercari Set to Continue Displaying Yen Prices

One of Japan’s biggest online marketplaces, Mercari, has announced that soon its customers will be able to make payments using Bitcoin (BTC). Although Mercari is expected to continue displaying prices in yen, starting in June, its customers will be able to select the crypto asset when making payments.

According to a Nikkei report, Melcoin, a subsidiary of the online commerce giant, is set to process all payments made via BTC. This means vendors will only receive their payments in the form of yen. In addition, users will be able to buy and sell BTC using proceeds from online sales.

Mercari’s pivot to BTC payments comes almost a year after it launched a BTC trading service and more than three months after it reportedly hit the 1 million users milestone. The milestone was achieved as Mercari confirmed that some 80% of its crypto users had no previous crypto trading experience.

Despite being the new kid on the block, Mercari’s BTC trading service is already viewed more favorably by Japanese users than its rival Rakuten. As the findings of a study conducted by Mobile Marketing Data Labo show, 24.7% of the respondents who began using crypto in 2023 said they prefer using Mercari, compared to Rakuten’s 24.2%.

Meanwhile, some have described Mercari’s BTC trading service as a major blow to centralized crypto exchanges like Bitflyer, which has seen its share of the market drop to 11.3%.

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/Yuto50V
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Seven UK Companies Form Cryptocurrency Trade Body

Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.” Also Read:   Independent Ratings Agency Alerts Investors About Dangers of Tether Leading Cryptocurrency Companies form Crypto UK Trade Body Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.” The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector. “Regulation is Imminent” The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[in...
41 comments
Read more