Japanese e-commerce giant Mercari has taken another step into the cryptocurrency sphere, launching Ethereum (ETH) trading services in its app. Japanese portal CoinPost reported that the company unveiled the service to Mercari users on May 21.
Mercari claims to be “the largest marketplace in Japan.” It operates a “flea market” platform in the same vein as companies like eBay. In recent years, the company has turned to cryptocurrencies. It launched a cryptocurrency 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 cryptocurrency users were more likely to use Mercari’s cryptocurrency exchanges or its e-commerce rival Rakuten than the platforms of more established players.
Mercari also announced in January, through its Tokyo-based cryptocurrency subsidiary Melcoin , that it would begin accepting Bitcoin (BTC) on its platform. Melcoin processes BTC payments made on the platform, with “more than 100,000” Bitcoin transactions already completed.
Initially, buyers will be able to pay in Bitcoin, but sellers will receive yen. Prices will also be displayed only in yen. Mercari launched Bitcoin trading services in its app in March, and the second coin to be added is ETH.
The implementation of ETH will take place “in stages.” Mercari users will be able to buy Ethereum using credit or debit cards – or the company’s own loyalty points.
The company says about 2 million people have already started using its BTC trading services. Google Trends data shows a surge in Ethereum-related searches since the beginning of the year in Japan.
In recent days, interest in ETH has increased again. This is likely due to reports that the U.S. Securities and Exchange Commission may soon approve ETH funds (ETFs).
