Ethereum
Japanese e-commerce giant Mercari launches Ethereum Trading
Last updated: May 22, 2024, 7:30 p.m. EDT | 1 minute reading
Japanese e-commerce giant Mercari has taken another step into the crypto sphere by launching Ethereum (ETH) trading services on its application.
Japanese media CoinPost reported that the company unveiled the service for Mercari users on May 21.
Ethereum nods to Japanese e-commerce giant Mercari
Mercari claims it is Japan’s “largest market.” It operates a “flea market” platform in the same vein as companies like eBay.
In recent years, the company has moved into crypto. It launched a crypto exchange which it integrated into its marketplace app.
This exchange has already proven to be a success. A survey conducted last year found that new Japanese crypto users were more likely to use the crypto exchanges of Mercari or its e-commerce rival Rakuten than the platforms of more established crypto players.
In JanuaryMercari also announced, through its Tokyo-based crypto subsidiary Melcoin, that it would begin accepting Bitcoin (BTC) on its platform.
Melcoin processes BTC payments made on the platform, with “over 100,000” Bitcoin transactions already completed.
Initially, buyers will be allowed to pay in Bitcoin, but sellers will receive yen. Prices will also be displayed in yen only.
Mercari launched Bitcoin trading services on its app in March, with ETH being the second coin added.
The deployment of ETH will be done “in stages”. And Mercari users will be able to buy Ethereum with credit or debit cards – or with the company’s own loyalty points.
The company claims that around 2 million people have already started using its BTC trading services.
Data from Google Trends shows a sharp increase in searches related to Ethereum since the start of the year in Japan.
Interest in ETH has increased again in recent days. This is likely due to reports that the U.S. Securities and Exchange Commission could soon approve ETH spot exchange-traded funds (ETFs).