Mercari Plans to Accept BTC Payments: Report

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The online marketplace for second-hand goods, Mercari, introduced an in-app bitcoin exchange for its users last year.

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Mercari, a popular digital flea market platform in Japan with more than 22 million monthly active users, is considering enabling users to buy products using bitcoin by June this year, as reported by Nikkei.

Mercari’s Bitcoin Payment Plans Through Melcoin

Mercari, the Tokyo-based digital flea market platform, is gearing up to introduce bitcoin payments facilitated by its blockchain subsidiary, Melcoin, as reported. Expected to be in operation by June, Melcoin will act as an intermediary, converting bitcoin to yen for sellers, while product prices on Mercari will continue to be displayed in Japanese yen.

Users of the app will have the convenience of utilizing bitcoin, the world’s largest cryptocurrency by market capitalization, for their purchases. Melcoin plans to implement transaction fees similar to those applied in fiat currency sales, although the exact fees for users are yet to be clarified.

In March 2023, Mercari took a step into the cryptocurrency space by launching its bitcoin exchange. This feature allows users to buy bitcoin directly through the app using their bank account balance, sales proceeds, or free points earned from selling activities on the platform.

As of its latest earnings report, Mercari, established in 2013, posted a profit of 2.8 billion yen ($19.4 million) in the third quarter of 2023, marking a substantial increase from the 555 million yen reported in the same period the previous year. The company’s revenue for the same period amounted to 44.27 billion yen, reflecting an 11.2% year-on-year growth.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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