Businesses Embracing Bitcoin Triple in 2023 as E-comm Giant Mercari Readies BTC Acceptance
According to BTC Map’s latest data, finding real-life vendors that accept Bitcoin might be more feasible than ever, with a reported surge in businesses embracing the cryptocurrency.
The project, relying on crowdsourced information, presently lists over 6,300 vendors acknowledging Bitcoin payments over the past year, a significant leap from the previous count of 2,200 vendors recorded at the close of 2022.
While acknowledging potential gaps in data due to oversight by volunteer contributors, this surge signifies a noteworthy uptick in Bitcoin’s adoption despite its volatile price fluctuations throughout 2023.
The geographical distribution of these Bitcoin-friendly vendors showcases a global trend, predominantly clustering in Europe, the United States, and notably, Latin America. While the Philippines boasts a considerable presence of Bitcoin-accepting vendors, East Asia seems slower in adoption, especially with China‘s ban on cryptocurrencies, resulting in a lack of vendors within its borders.
Mercari to Accept BTC Payments in June
However, Japan’s Mercari, a digital flea market platform with over 22 million active monthly users, is slated to introduce Bitcoin payments by June. Through their Tokyo-based blockchain arm, Melcoin, users will be enabled to transact in Bitcoin for purchases while the prices on Mercari would continue to be displayed in Japanese yen.
Melcoin intends to function as an intermediary converting Bitcoin payments into yen for the seller, imposing transaction fees akin to fiat currency transactions. Notably, details regarding the fees for users remain uncertain at this stage.
It is worth noting that in March 2023, Mercari launched its Bitcoin exchange, allowing users to buy Bitcoin directly through the app using their bank account balances, sales proceeds, and earned points.
Mercari’s financial performance portrays robust growth, reporting 2.8 billion yen ($19.4 million) in profit in the third quarter of 2023, a substantial increase from 555 million yen in the corresponding period the previous year, according to The Block. The company’s revenue also escalated to 44.27 billion yen, marking an 11.2% year-on-year rise.
