Japanese e-commerce giant Mercari has expanded its presence in the cryptocurrency realm with the introduction of Ethereum (ETH) trading on its platform, as reported by CoinPost.
Mercari, described as Japan's largest marketplace, has been progressively embracing cryptocurrencies. The company, known for its flea market-style platform akin to eBay, launched a crypto exchange integrated with its app, which has garnered considerable success.
A man uses a smart courier machine to send a Mercari parcel. (Source: TBS News Dig Powered by JNN)
Recent trends indicate a growing preference among Japanese crypto users for platforms like Mercari's exchange and its competitor Rakuten, over more traditional crypto exchanges. Mercari's subsidiary, Melcoin, announced earlier acceptance of Bitcoin (BTC) on its platform, facilitating over 100,000 BTC transactions to date.
Following the successful integration of Bitcoin trading in March, Mercari now introduces Ethereum trading. The rollout will occur gradually, with users allowed to purchase Ethereum using credit or debit cards, as well as Mercari's loyalty points.
Mercari's move coincides with heightened interest in Ethereum, reflected in increased Google searches since the year's commencement, particularly in Japan. Recent reports hinting at potential approval of spot ETH exchange-traded funds (ETFs) by the United States Securities and Exchange Commission have further bolstered Ethereum's appeal.
A graph from Google Trends showing the rise in Japanese searches using the word “Ethereum” over the past 12 months.
Mercari's foray into Ethereum trading marks another milestone in its evolving crypto journey. The company's strategic expansion into the cryptocurrency market aligns with growing user interest and market trends, positioning Mercari as a significant player in Japan's crypto landscape.
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