cryptoglobe.com
Mercari, established in Japan in February 2013, is a consumer-to-consumer (C2C) marketplace app renowned for its focus on second-hand goods. It has carved a niche in Japan’s e-commerce sector, offering a platform for buying and selling a diverse range of pre-owned items, including electronics, fashion, collectibles, and home goods. While new items can occasionally be found, Mercari’s primary appeal is in the second-hand market.
The app is celebrated for its user-friendly interface, particularly appealing to mobile users, a reflection of Japan’s high mobile internet usage. Mercari ensures a secure trading environment through its escrow-like system, where payments are held until buyers confirm receipt of items in satisfactory condition. This system fosters trust among users and enhances the overall security of transactions.
As The Block reported earlier today, citing Nikkei as its source, Mercari, a prominent digital flea market platform in Japan, is taking a significant leap in the world of crypto payments. With over 22 million monthly active users, the platform is gearing up to introduce the option of purchasing products using Bitcoin by June this year. This strategic move positions Mercari at the forefront of integrating cryptocurrency into mainstream e-commerce.
Despite this new payment method, Mercari will continue to display prices in Japanese yen. However, users will have the flexibility to transact using Bitcoin, the world’s largest cryptocurrency by market capitalization.
The implementation of Bitcoin payments will be managed by Mercari’s Tokyo-based blockchain subsidiary, Mercoin, which was announced in late April 2021:
“By establishing Mercoin and taking on the cryptoasset business, Mercari will make it even easier for users to utilize financial services, such as by allowing users to receive payment for Mercari sales in bitcoin and providing a single wallet function that incorporates not only Merpay’s payment and remittance services, but credit, cryptoasset, and asset management features as well.“
What this means is that users of Mercari who are also users of their crypto trading service, which was launched in March 2023 and is operated by Mercoin, will be able to choose BTC as a payment method.