Japan’s E-Commerce Giant Mercari Plans to Accept Bitcoin Payments

Mercari Japan’s digital flea market platform with over 22 million monthly active users, is planning to allow users to purchase products in bitcoin by June this year, according to Nikkei.

Payments in bitcoin are set to be hosted by the company’s Tokyo-based blockchain subsidiary, Mercoin. While prices on Mercari would remain displayed in Japanese yen, users of the app would be able to make payments with the world’s largest cryptocy by market capitalization, according to the report.

Mercoin plans to serve as an intermediary that transfers bitcoin to the seller in yen. Payments in bitcoin will be subject to the same range of fees charged to usual Mercari transactions made in fiat cy, the company told The Block in an email response. The e-commerce platform plans to incorporate NFTs into the app in the future, but said it does not have a roadmap to disclose at the moment. In March 2023, Mercari launched its own bitcoin exchange, allowing users to purchase bitcoin through the app using their bank account balance, sales proceeds and free points earned from selling activities on the platform, according to its website.