Mercari, Japan's E-Commerce Giant, Now Accepts Bitcoin Payments

• Japanese E-commerce Powerhouse Mercari to Accept Bitcoin Payments
• Mercoin to Facilitate Bitcoin Transactions
• Bitcoin's Growth and Future Projections
• Mercari's Bitcoin Integration
• Payments and Currency Conversion
• Mercari's Financial Growth

Japanese E-commerce Powerhouse Mercari to Accept Bitcoin Payments

The renowned Japanese E-commerce platform Mercari is reported to begin accepting Bitcoin$42,260 -0.64% (BTC) as a form of payment. Known for marketing second-hand items, the marketplace has previously introduced a BTC exchange within its mobile application and is now set to accept the cryptocurrency for purchases. As one of the largest platforms globally, Mercari boasts over 20 million active users.

Mercoin to Facilitate Bitcoin Transactions

Mercari's blockchain subsidiary, Mercoin, is anticipated to process the payments made in Bitcoin. The adoption of Bitcoin, the largest cryptocurrency in the world, marks a significant milestone for the Tokyo-based company.

Bitcoin's Growth and Future Projections

By the end of 2023, Bitcoin's growth was unmistakable, riding high on the potential approval of a Spot Bitcoin ETF in the United States. This speculation resulted in the cryptocurrency surpassing $45,000 at the beginning of the next year, the first such increase since 2022. Today, Bitcoin continues to expand its global presence.

Mercari's Bitcoin Integration

Mercari is reportedly gearing up to accept Bitcoin as a payment method. The platform plans to leverage its blockchain subsidiary, Mercoin, to integrate the cryptocurrency more extensively into its payment system.

Payments and Currency Conversion

Reports suggest that Mercari will continue to list its product prices in Japanese Yen. However, users of its mobile application will have the option to purchase products using their Bitcoin balance. Notably, Mercoin is expected to run the currency exchange, converting Bitcoin payments to Yen for sellers.

Mercari's Financial Growth

For more than a decade, Mercari has been in operation and reported a profit of over 2.8 billion yen ($19.4 million) at the conclusion of 2023's third quarter. This profit marked a remarkable upswing from the prior 555 million yen earned in the same period a year earlier. With an overall revenue increase of 11.2% for the year, the company may see further financial growth through its Bitcoin integration.

Edited by Jonathan Stoker