One Of Japan’s Biggest E-Commerce Platforms To Accept Bitcoin!

January 8, 2024 10:21 am Comments

One of Japan’s biggest e-commerce platforms has announced plans to begin accepting Bitcoin payments this year.

Mercari, a marketplace for buying second-hand goods from independent retailers and individuals, similar to E-bay, has announced that it will begin accepting Bitcoin as a payment on the platform by June 2024.

Coin Telegraph explained that this is not the first time the company has furthered crypto innovation in Japan:

Over the years, Mercari has embraced cryptocurrency on its platform. 

Recently, the firm launched the Mercari Bitcoin crypto trading service, which allows users to buy and sell BTC using proceeds from sales on the platform.

According to the company, buyers will have the option of paying in BTC which will then go directly to Mercari; Mercari will then convert those funds to local fiat currencies and relay the correct amount to the seller.

The Japanese e-commerce giant will use its Tokyo-based exchange Mercoin to complete the Bitcoin-to-fiat conversions. Multiple outlets confirmed:

The Block had more on the Japanese e-commerce giant:

Mercari, founded in 2013, reported 2.8 billion yen ($19.4 million) in profit in the third quarter of 2023, compared to 555 million yen in the same period in the previous year, according to its latest earnings report.

The company generated 44.27 billion yen in revenue in the same period, up 11.2% year-on-year.

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