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Japanese E-commerce Giant Mercari to Give Away Bitcoin in Promotion Drive

Adoption Japan

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 30, 2024

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Japanese E-commerce Giant Mercari to Give Away Bitcoin in Promotion Drive

The Japanese e-commerce heavyweight Mercari has announced it will give away Bitcoin (BTC) as part of its latest promotional drive.

In a Mercari press release published on July 1, the firm’s crypto subsidiary Mercoin said it was launching an “invitation campaign” for its Bitcoin trading service.

The firm said its campaign will run until July 31, and will incentivize Mercari users to bring other people to the platform.

Mercari to Give Away Bitcoin: Japanese Adoption Rising?

Both people sending invitations and recipients will receive 200 yen (around $0.12) worth of Bitcoin for each person they invite.

The firm said there was “no limit to the number of people” users can invite. It added that people could also receive 200 yen worth of Bitcoin by signing a special signup code.

The company released a commercial to promote the launch of its BTC services featuring top celebrities such as former pro wrestler Riki Choshu and the actress and singer Haruka Shimazaki.

Mercari is a relative latecomer to the Japanese crypto exchange sector. But it has enjoyed phenomenal success since it turned its hand to BTC and crypto.

Its crypto trading service “boasts the highest number of new cryptocurrency users in the industry,” Japan’s CoinPost reported, “with over 2.2 million users as of May 30.”

Data compiled by the Japan Virtual and Cryptoassets Exchange Association shows that 61.5% of the total number of new crypto wallets opened from the end of March 2023 to the end of March 2024 were launched on the Mercari platform.

Mercari unveiled its Bitcoin trading service features in March 2023. But this year, the company has sought to integrate these with its core “online flea market” business.

In February, the firm rolled out a feature that lets customers use their Bitcoin holding to buy goods on the Mercari platform.

E-commerce Firm Also Offers ETH Trading

The firm has also launched similar features for Ethereum (ETH). In May, it launched a service that allows customers to swap their loyalty points for Ethereum tokens.

Vendors can also use a feature that allows them to receive ETH in place of fiat when completing a sale.

Japan's economy shrank more than initially reported in the first quarter, the government said in a rare unscheduled revision to gross domestic product data, darkening prospects for a fragile recovery https://t.co/1kC36Z6WNV

— Reuters (@Reuters) July 1, 2024

Mercoin said that the “reason behind” the large “increase” in new crypto wallets was “the expansion of a customer base that has not previously been exposed to cryptocurrencies.” Mercoin added: