Mercoin, a subsidiary of Mercari, announced on September 15th the launch of a new "Point Management" feature that enables the automatic purchase of crypto assets whenever Mercari points are awarded. Initially, Bitcoin and Ethereum are the eligible crypto assets, with plans for gradual expansion.
Once the feature is enabled, Mercari points received through campaigns or other means will be automatically converted into crypto asset purchases at a rate of 1 point = 1 yen. Users have the option to allocate points to both Bitcoin and Ethereum, in which case the purchase will generally be split equally between the two. There are no direct usage fees for this service.
However, it's important to note that the purchase price of crypto assets includes a spread, which acts as an effective transaction cost. Furthermore, unlike Mercari's existing "Point Investment" feature, which allows users to virtually experience fluctuations in point value, this new system involves the purchase of actual crypto assets.