What happened?
Mercari, a major Japanese e-commerce company, has introduced XRP trading on its crypto exchange app, Mercoin. Users can now purchase XRP using their Mercari account or points, along with using bank transfer services. This new addition comes after the firm previously enabled Ethereum and Bitcoin trading on the platform.
Who does this affect?
This development primarily affects Mercari’s customer base in Japan, consisting of over 23 million monthly users. It particularly impacts those interested in entering the cryptocurrency market, as approximately 90% of current Mercoin users are first-time crypto investors. Additionally, it attracts existing cryptocurrency enthusiasts looking for more diverse trading options within a trusted platform.
Why does this matter?
Mercari’s expansion into XRP trading could significantly influence the cryptocurrency market in Japan by encouraging more local adoption of cryptocurrencies. This move may increase XRP’s popularity and trading volume in the region, potentially impacting its market price. Furthermore, it signals growing interest and trust in cryptocurrency investments among traditional e-commerce users.