- Melcoin is in charge of processing all Bitcoin payments into JPY.
- Mercari will not show Bitcoin pricing but will continue to offer products in Japanese yen.
Japan is a crypto-friendly nation, and businesses there are now trying to figure out how to increase Bitcoin utilization. According to Mercari, one of the biggest e-commerce platforms in Japan, users will be able to buy using Bitcoin beginning in June this year.
The business’s cryptocurrency subsidiary, Melcoin, located in Tokyo, would reportedly process Bitcoin transactions on behalf of the parent corporation, according to Nikkei. Melcoin is in charge of processing all Bitcoin payments into JPY. This implies that sellers will get the same amount in fiat money as purchasers do in Bitcoin.
Importantly, Mercari will not show Bitcoin pricing but will continue to offer products in Japanese yen. Even if Mercari doesn’t explicitly list pricing in Bitcoin, users will still have the option to pay with Bitcoin when making purchases. The adoption of cryptocurrencies in Japan’s e-commerce scene is being marked by this development.
Boosting Bitcoin Adoption
The business has an astounding 22 million monthly users as of July 2023. Mercari has also been making great strides to increase its presence in global markets, especially in Europe.
A number of crypto-related Mercari goods have been introduced in recent months, marking the company’s entry into the cryptocurrency market. Perhaps most notably, the business introduced the Mercari Bitcoin trading platform.
With the money they make from their Mercari sales, customers may purchase and sell Bitcoin utilizing this service. Data from Bitcoin merchant mapping firm BTC Map shows that the number of retailers registered as accepting Bitcoin payments worldwide have nearly tripled in 2023.
Up from 2,207 at the beginning of 2023, the number of retailers listed to accept the digital currency reached 6,126 by the end of the year.
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Source: https://thenewscrypto.com/japanese-e-commerce-giant-mercari-embraces-bitcoin-payments/