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E-Commerce Giant Mercari to Accept Bitcoin as a Payment Method

Mercari, a leading online marketplace based in Japan, will allow users to pay in Bitcoin starting this June. The platform's decision to integrate Bitcoin transactions represents a major change since its 2013 launch. Payments will be processed through Mercari's blockchain subsidiary, Mercoin, which will convert Bitcoin into Japanese Yen in real-time with transaction fees comparable to fiat currencies. This integration follows Mercari's March 2023 launch of a Bitcoin exchange, allowing direct Bitcoin purchases using bank balances, sales proceeds, and points from the app.

Financially, Mercari is thriving. The community-powered platform has over 22 million monthly users, earned $19.4 million in profit in its third quarter, and saw an 11.2% revenue increase compared to last year. This adoption of Bitcoin aligns with Japan's evolving regulatory landscape, which is becoming increasingly supportive of crypto businesses, including plans to eliminate taxes on unrealized crypto gains. Mercari's initiative could also set a precedent for other Asian online marketplaces.

🌐👉 For more details on Mercari’s shift towards more integrated digital commerce, check out the full article [HERE].

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FOX Teams up With Polygon to Combat AI Spam With New Verification Service

Fox Corp. has launched an open-source protocol on the Polygon network to assist media companies in establishing content authenticity called ‘Verify.’ This protocol allows publishers to register content on-chain, ensuring its origin and validity. Polygon Labs CEO Mark Boiron highlights the significance of blockchains in verifying content, especially in the era of AI-generated images and video. Verify lets users cryptographically sign content and include metadata like location, device, or associated persons. While it doesn't confirm ownership directly, it supports public dispute and scrutiny of content metadata. Users can also control content access through smart contracts.

This initiative reflects media companies' growing interest in using blockchain to manage the proliferation of AI-generated content online. Fox has supported many blockchain-native projects, including its partnership with Blockchain-based media delivery network Eluvio and a Web3 experience for "Masked Singer" fans. Thus far, Verify has registered 89,000 pieces of content.

🌐👉 To see more on Fox Corp.’s development in blockchain content verification, read the full article [HERE].

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Visa Launches New Web3 Loyalty Program Solution to Reward Customers and Boost Engagement

Visa has introduced a new loyalty program called the ‘Visa Web3 Loyalty Engagement Solution’, which focuses on customer engagement beyond traditional purchase-based rewards. This collaboration with SmartMedia Technologies allows brands to offer customers digital wallets for storing rewards and experiences. It features gamified giveaways, treasure hunts, and interactive experiences in various categories, such as travel, sports, and entertainment.

SVP and Global Head of Issuing Solutions of Visa, Kathleen Pierce-Gilmore, says the ‘Visa Web3 Loyalty Engagement Solution’ rewards customers for using their cards and active participation by providing them with digital and real-world experiences. Visa's involvement in the crypto space isn't new; they launched a crypto advisory unit in 2021 and have collaborated on several crypto exchanges and projects, offering card programs, settlement in USDC, and the ability to send or receive USDC payments via the Solana blockchain.

🌐👉 To understand more about Visa's goals to grow customer-brand relationships, read more [HERE].

• Central Bank Of Nigeria Approves Naira Stablecoin For 2024 Launch

• Coinbase Acquiring Cyprus-based Entity to Expand EU Derivatives Offerings

• Spanish Central Bank Finalizes Partners for Wholesale CBDC Pilot

• Iranian Crypto Exchange Bit24.Cash Suffers User Passport and ID Leak

• Honduras SEZ Recognizes Bitcoin as Unit of Account to Further Financial Freedom

The Editor's Insights

A few articles this week deserve an honorable mention; here are my comments on them.

Solana Could Be Top 3 Blockchain This Year

I've mentioned Solana once before in The Editor’s Insights, and based on the network trend, it won't be the last. The last time I was this impressed with the development of a Blockchain ecosystem was when Binance clinched a crypto-asset service provider license from the Central Bank of Bahrain- in the Persian Gulf... which is near the 17th-largest economy in the world. But Solana's blockchain is building just as fast. The network surpassed Ethereum in weekly stablecoin transfer volume, a key indicator of its growing influence in the crypto market. This 612% monthly increase underscores Solana's user engagement and trust, particularly with USDC transactions. The Solana Foundation reported a 50% boost in developer retention, showing a will to innovate the ecosystem. Over 2,500 monthly active developers contribute to Solana's technological advancements to enhance the blockchain's appeal and functionality.

Additionally, the acquisition of Solscan by Etherscan reflects another metric in Solana's increasing popularity. Solscan is where people can view detailed blockchain data analytics on a user-friendly interface. All Solana wallet transactions have merged with Etherscan's blockchain data, similar to how one can view Ethereum and other networks. This acquisition strengthens Solana's market position and signals its potential to lead in the blockchain industry. I can hardly wait to see what happens to the network when Solana's most anticipated games, Aurory and Star Atlas, hit the mainstream.