[NEWS] Mercari to introduce Bitcoin payment for purchasing items on its flea market app

Mercari, Japan's largest flea market platform, will allow users to purchase items listed with Bitcoin (BTC) by June of this year. The Nihon Keizai Shimbun reported on the 5th.

According to the report, Mercari will promote Bitcoin trading through its subsidiary cryptocurrency exchange Mercoin.

The prices of listed items will be displayed in Japanese yen as usual, and Bitcoin will be added as a payment method. Sellers and sellers will be able to convert Bitcoin to Japanese yen in real time through Mercoin.

Founded in 2013, Mercari is one of Japan's largest consumer-to-consumer electronic trading marketplaces, with more than 22 million monthly users. Adding a Bitcoin payment option to Mercari, which has many users, could lead to the promotion of cryptocurrency distribution in Japan. If usage continues, further growth of the cryptocurrency industry in Japan is expected.

Mercari's presence in the cryptocurrency industry is growing

Mercari launched its Bitcoin trading service in March last year, and has attracted attention, with the number of users exceeding 1 million in just six months.

Last month, Mercari ranked highly in many categories in the "2023 Cryptocurrency Survey" published by MMD Research Institute, run by MMD Labo. In particular, the survey revealed that about 30% of users who started cryptocurrency trading for the first time used Mercari for the first time.

According to Mercari, as of the end of June last year, about 80% of users had no experience in cryptocurrency trading. In addition, about 60% of users who purchased Bitcoin have a Merpay balance and have started cryptocurrency trading.

The fact that you can invest in Bitcoin with points is a major factor, but the company's commitment to a simple design for trading operations also lowered the barrier to use for beginners.

Reference:Nihon Keizai Shimbun
Image: Shutterstock

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