Japanese e-commerce giant Mercari has recently introduced Ethereum (ETH) trading services on its app, further solidifying its presence in the crypto sphere. As reported by CoinPost, the service was launched on May 21 for Mercari users. Mercari, known as Japan’s largest marketplace, operates a flea market platform similar to eBay. The company has been increasingly focusing on crypto-related ventures, including the integration of a crypto exchange within its marketplace app. This move has been met with success, as newer Japanese crypto users have shown a preference for Mercari’s exchange over more established platforms.
In January, Mercari announced that its Tokyo-based crypto subsidiary Melcoin would start accepting Bitcoin (BTC) on its platform. Melcoin has already processed “over 100,000” Bitcoin transactions on the platform, indicating a positive response from users. Initially, buyers can pay in Bitcoin, but vendors will receive payments in yen, with prices displayed in yen only. Following the launch of Bitcoin trading services in March, Mercari has now expanded its offerings to include Ethereum, with plans to introduce the coin gradually in stages.
The ETH rollout on Mercari’s app will allow users to purchase Ethereum using credit or debit cards, as well as the company’s loyalty points. So far, approximately 2 million people have started using Mercari’s BTC trading services, indicating a growing interest in crypto trading among Japanese consumers. Google Trends data also reflects a significant increase in searches related to Ethereum in Japan over the past year, with a recent spike coinciding with reports of possible approval of spot ETH exchange-traded funds (ETFs) by the United States Securities and Exchange Commission.
The decision to add Ethereum trading services to its app aligns with Mercari’s strategic focus on expanding its crypto offerings and catering to the evolving needs of its user base. By providing a seamless platform for users to trade cryptocurrencies like Bitcoin and now Ethereum, Mercari aims to capture a larger market share in the growing crypto industry. The phased approach to introducing Ethereum on the app ensures a smooth transition for users and allows them to familiarize themselves with the new trading options available on the platform.
As the crypto market continues to evolve and gain mainstream acceptance, companies like Mercari are leveraging these opportunities to enhance their services and attract a broader audience of crypto enthusiasts. By incorporating popular cryptocurrencies like Ethereum into its app, Mercari is staying ahead of the curve and positioning itself as a key player in the crypto trading landscape. The positive reception of Bitcoin trading services and the anticipation surrounding Ethereum trading signify a promising future for Mercari as it expands its presence in the crypto space and offers users more diverse options for trading digital assets.