Japanese E-Commerce Giant Integrates Bitcoin as a Payment Options

Amidst the rapid development of the crypto industry, Japan is making its mark as a pioneer. In a surprising and progressive move, Mercari, one of Japan's e-commerce giants, announced that it will accept Bitcoin as a payment method starting June 2024. This initiative not only reflects Mercari's boldness in embracing future technologies but also marks a new era in digital transactions in Japan.

Bitcoin Enters the World of Japanese E-Commerce

A report from Nikkei revealed that Mercari will integrate Bitcoin as a payment option through its Tokyo-based subsidiary, Melcoin.

Interestingly, Melcoin will be responsible for converting Bitcoin to Japanese yen, ensuring sellers receive payment in fiat currency even if buyers use BTC.

Although it does not display prices in Bitcoin, Mercari gives customers the flexibility to choose Bitcoin as a payment option, a move that shows strong adaptation to changes in the e-commerce industry in Japan. 

Green Bitcoin Initiative and Mercari Expansion

In addition to accepting Bitcoin, Mercari is also promoting its Green Bitcoin Presale, which is part of its commitment to crypto innovation.

Founded in 2013, Mercari has grown to become Japan's largest community marketplace platform with 22 million monthly users as of July 2023. The company's international focus, especially in Europe, shows Mercari's unlimited global ambitions.

Crypto Integration as a Payment Tool in the Mercari Strategy

Mercari has also launched a Bitcoin trading service, allowing users to buy and sell Bitcoin with their sales proceeds on the platform.

The integration of Mercari's loyalty points system with its crypto trading arm offers users the convenience of exchanging their points for Bitcoin, closing the gap between traditional e-commerce and the crypto world.

Rakuten's Role and Challenges for Japanese Crypto Exchanges

Rakuten, a leading Japanese e-commerce platform, has been actively involved in the cryptocurrency world for a long time, before Mercari's entry.

Rakuten entered the crypto industry with its Rakuten Wallet service and has successfully integrated its loyalty points program with cryptocurrencies , allowing users to convert their points into various crypto assets.

Interestingly, a recent survey shows that Bitcoin trading app Mercari and the Rakuten Wallet platform are very popular among new investors in Japan, even rivaling the country's main crypto exchanges. 

With these major changes, Japan is also preparing tax reform for the crypto industry in 2024, marking a major step for the country in adopting and regulating future financial technology.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.