Mercari Expands Its Mercoin Crypto Exchange App to Include XRP Trading

The update, launched on 24th April, allows users to buy XRP using their Mercari (Merpay) account balances, Mercari points, or via direct bank transfers.

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Mercari, a prominent e-commerce platform in Japan, has integrated XRP trading functionality into its Mercoin crypto exchange app.

Announced on 24th April, the update enables users to effortlessly buy XRP using their existing Mercari (Merpay) account balances, Mercari points, or via direct bank transfers, with the minimum deposit for opening a wallet set at just 1 yen ($0.007).

This development follows the launch of Ethereum (ETH) trading functionality less than a year ago, which arrived after the introduction of Bitcoin (BTC) trading services in March 2023. By December last year, over 3 million users were actively engaging in crypto trading on Mercoin, and the company claims to hold the highest figures for new crypto wallet openings within Japan’s domestic crypto exchange industry.

Known for its massive user base of over 23 million monthly users in Japan, Mercari is also planning special events and campaigns related to XRP, aiming to engage the public with the cryptocurrency.

In its announcement, Mercari further elaborated on its commitment to promoting XRP adoption through various initiatives.

"We are planning to hold special events and campaigns related to XRP, aiming to engage the public with the cryptocurrency," the company stated.

"We will continue to strive to expand the possibilities of money and value in Web3 through close collaboration with our users," Mercari added.

Out of the total Mercoin users, approximately 90% are engaging in cryptocurrency investing for the first time, showcasing the platform’s accessibility to beginners.

In July 2024, Mercoin launched an invitation campaign to encourage Bitcoin trading, offering 200 yen worth of BTC to both the inviter and the invitee for every new user, with no limitations on the number of invitations.

This move into XRP trading aligns with Mercari’s broader diversification strategy. Last month, the company announced plans to enter the mobile telecommunications sector, expanding its operations beyond its core e-commerce activities.

Meanwhile, other Japanese companies are also venturing into the cryptocurrency space. For instance, gaming developer Gumi recently unveiled plans to distribute a portion of its net income in Bitcoin to its shareholders, aiming to share the company's success with its stakeholders.