Japan’s E-commerce giant, Mercari, is reportedly set to begin accepting Bitcoin (BTC) payments soon. Indeed, the marketplace, that sells second-hand products, had already unveiled a BTC exchange that took place within its mobile application. Now, it is set to accept the digital asset as payment for products.
The platform is undoubtedly one of the largest in the world. The the platform already boasts more than 20 million active users. Moreover, its blockchain subsidiary, Mercoin, is primed to host the payments that take place in Bitcoin. Subsequently, the integration of the world’s largest cryptocurrency would be huge for the Tokyo-based company.
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Japan’s Mercari Set to Integrate Bitcoin Payments
Throughout the end of 2023, the growth of Bitcoin was an undeniable reality. The asset was riding the excitement attributed to the potential approval of a Spot Bitcoin ETF in the United States. Moreover, that speculation led the asset to finally surpass $45,000 at the start of the new year. Specifically, that was the first time the price exceeded that level since 2022.
Now, the digital asset is continuing to grow in its presence on a global scale. Indeed, Japan’s e-commerce platform, Mercari, is reportedly set to begin accepting Bitcoin (BTC) as a payment option. The platform is seeking to utilize its blockchain subsidiary, Mercoin, to integrate the asset to an even larger degree.
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According to reports, Mercari is expected to still post its product listing with prices in Japanese Yen. However, the users of its mobile application will be able to purchase the product using their Bitcoin balance. However, the report notes that Mercoin is set to act as the intermediary that transfers the Bitcoin to the seller in Yen.
Mercari has been operational for more than a decade and had noted more than 2.8 billion yen ($19.4 million) in profit to end 2023 Q3. That figure was a notable increase from the 555 million yet it was made just a year earlier. The company’s overall revenue is up 11.2% on the year and could benefit from the wider adoption of Bitcoin through this crucial integration.