Japanese e-commerce giant Mercari has made strides in the cryptocurrency sphere by introducing Ethereum (ETH) trading services on its platform, marking another significant move in its crypto integration efforts.

Mercari's Expansion into Crypto

As Japan's "biggest marketplace," Mercari has established itself as a prominent player in the e-commerce sector, operating a flea market platform akin to eBay. In recent years, the company has pivoted towards cryptocurrency, launching a crypto exchange integrated with its marketplace app.

Success of Mercari's Crypto Ventures

Mercari's crypto exchange has gained traction, particularly among newer Japanese crypto users, who prefer it over platforms offered by more established crypto players. Last year's survey indicated a preference for Mercari or its e-commerce rival Rakuten's crypto exchanges.

Acceptance of Bitcoin and Ethereum

In January, Mercari announced its acceptance of Bitcoin (BTC) through its Tokyo-based crypto subsidiary Melcoin. Over 100,000 Bitcoin transactions have been processed by Melcoin on the platform. Following the success of BTC integration, Mercari has now introduced Ethereum trading services on its app.

ETH Rollout and User Engagement

The rollout of Ethereum trading will occur gradually, with users able to purchase ETH using credit or debit cards, as well as Mercari's loyalty points. With approximately 2 million users already utilizing its BTC trading services, Mercari anticipates significant engagement with its new ETH offering.

Rising Interest in Ethereum

Google Trends data reflects a surge in Ethereum-related searches in Japan, particularly since the beginning of the year. Recent spikes in ETH interest coincide with reports suggesting potential approval of spot ETH exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC).

Conclusion

Mercari's foray into Ethereum trading underscores its commitment to expanding its crypto offerings and catering to the evolving needs of its user base. With Ethereum's growing popularity and the anticipation surrounding regulatory developments, Mercari is poised to capitalize on the increasing demand for cryptocurrencies, further solidifying its position as a leading player in both the e-commerce and crypto sectors.