Mercari Adds XRP Trading, 90% New Crypto Investors

Mercari, a prominent e-commerce company in Japan, has introduced XRP trading capabilities on its Mercoin cryptocurrency exchange app. This move allows customers to purchase XRP using their Mercari (Merpay) account balances, Mercari points, or through direct bank transfers. The addition of XRP trading comes nearly a year after Mercari integrated Ethereum (ETH) trading into its crypto app, and follows the launch of its Bitcoin (BTC) trading service in March 2023.

Mercari reported that over 3 million individuals are now utilizing its crypto trading services, with a significant portion—approximately 90%—being first-time crypto investors. The company also highlighted that it has achieved the highest number of new crypto wallet openings in the domestic crypto exchange industry. This indicates a growing interest in cryptocurrency among Japanese consumers, particularly those new to the market.

In its press release, Mercari emphasized its commitment to making XRP more accessible and familiar in Japan. The company plans to organize various XRP-related events and campaigns in the future. This strategy aligns with Mercari's previous initiatives, such as the "invitation campaign" launched in July last year, which aimed to promote its Bitcoin trading services by incentivizing users to invite friends and relatives to the platform. Both the inviters and recipients received 200 yen worth of Bitcoin for each person invited, with no limit on the number of invitations.

Mercari's expansion into the cryptocurrency market reflects a broader trend among Japanese companies, which have been increasingly adopting cryptocurrencies as part of their business strategies. For instance, the Japanese gaming developer Gumi announced plans to hold a $106,000 Bitcoin giveaway for its newest shareholders. This move is part of a growing trend where Japanese, stock market-listed firms are using their balance sheets to purchase BTC and altcoins.

With over 23 million monthly users in Japan, Mercari's entry into the mobile telecommunications sector further diversifies its business portfolio. The company's strategic moves in the cryptocurrency and telecommunications industries position it as a forward-thinking player in the Japanese market, catering to the evolving needs and interests of its user base.