Japanese e-commerce giant Mercari has taken another step into the cryptocurrency space by launching Ethereum (ETH) trading services on its app.
Japanese media CoinPost reported that the company announced the service for Mercari users on May 21st.
Japanese e-commerce giant Mercari agrees to Ethereum
Mercari states it is the “largest marketplace” in Japan, operating a “flea market” platform in the same vein as companies such as eBay.
In recent years, the company has shifted its focus to cryptocurrencies. The company has launched a cryptocurrency exchange that integrates with its marketplace app.
The exchange has already been successful. A survey conducted last year found that new crypto users in Japan are more likely to use the crypto exchanges of Mercari and its e-commerce rival Rakuten, rather than the platforms of more established crypto players. Ta.
In January, Mercari also announced that it would begin accepting Bitcoin (BTC) on its platform through its Tokyo-based cryptocurrency subsidiary Melcoin.
Melcoin processes BTC payments made on its platform, with “over 100,000” Bitcoin transactions already completed.
Initially, buyers will be able to pay in Bitcoin, but sellers will accept Yen, and prices will also be displayed in Yen only.
Mercari launched Bitcoin trading services on its app in March, adding ETH as its second coin.
The rollout of ETH will be “gradual,” and Mercari users will be able to purchase Ethereum using credit cards, debit cards, or the company's points system.
According to the company, approximately 2 million people have already started using its BTC trading service.
According to Google Trends data, Ethereum-related searches have surged in Japan since the beginning of the year.
Interest in ETH has increased again in recent days. This is likely due to reports that the U.S. Securities and Exchange Commission may soon approve a spot ETH exchange traded fund (ETF).
