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Mercari, Japan’s leading ecommerce platform with over 22 million monthly active users, plans to accept Bitcoin payments, allowing users to purchase goods in Bitcoin by June this year, according to Nikkei.
The Bitcoin payment infrastructure will be managed by Melcoin, the company’s Tokyo-based blockchain subsidiary.
While product prices on Mercari will continue to be displayed in Japanese yen, users will be able to complete transactions using the world’s largest cryptocurrency by market capitalization, the report stated.
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Melcoin will act as an intermediary, converting Bitcoin into yen for sellers and imposing transaction fees comparable to those charged for fiat currency sales. It remains unclear whether users will be charged the same fee structure.
In March 2023, Mercari launched its own Bitcoin exchange, enabling users to buy Bitcoin directly through the app using bank account balances, proceeds from sales, and free points earned from selling activities on the platform, according to its website.
Mercari, founded in 2013, reported a profit of 2.8 billion yen ($19.4 million) in the third quarter of 2023, up from 555 million yen in the same period the previous year, according to its latest earnings report. Revenue for the period reached 44.27 billion yen, an 11.2% increase year-over-year.
The post Mercari to Enable Bitcoin Payments on Japan’s Ecommerce Platform appeared first on BitcoinWorld.
