Japanese E-commerce Giant Mercari Dives Into Ethereum Trading
The Japanese powerhouse Mercari has made a significant move in the crypto market by launching Ethereum (ETH) trading services on its app.
According to CoinPost, Mercari unveiled the Ethereum trading option for its users on May 21. Known as Japan’s “biggest marketplace,” Mercari operates a platform similar to eBay, focusing on facilitating online flea markets.
In recent years, Mercari has been increasingly involved in the world of cryptocurrencies. The company has already launched its own crypto exchange, which has been integrated with its marketplace app. This move has been widely successful, as a survey conducted last year indicated that newer Japanese crypto users preferred using Mercari’s exchange or its e-commerce rival Rakuten’s platform over more established crypto players.
Earlier this year, Mercari’s Tokyo-based crypto subsidiary Melcoin announced that it would start accepting Bitcoin (BTC) on its platform. Melcoin has processed over 100,000 Bitcoin transactions since then. Initially, buyers will be able to pay in Bitcoin, while vendors will receive payment in yen.
After launching Bitcoin trading services on its app in March, Mercari has now added Ethereum as the second digital currency available for trading. The rollout of ETH trading will occur in stages, and users will be able to purchase Ethereum using credit or debit cards, as well as the company’s own loyalty points.
With approximately 2 million people already utilizing its BTC trading services, Mercari is poised to capitalize on the growing interest in cryptocurrencies. Google Trends data shows a considerable surge in searches related to Ethereum in Japan, particularly since the beginning of the year. This recent spike can be attributed to reports speculating that the United States Securities and Exchange Commission will soon approve spot Ethereum exchange-traded funds (ETFs).