Japan-based horizontal Mercari has acquired regulatory technology firm Basset Inc. for risk management and compliance as it has begun accepting cryptocurrencies for digital payment.
Terms were not disclosed, but Basset has become the wholly-owned subsidiary of Mercari for planning and developing services related to crypto assets and blockchain.
In April, the marketplace launched a new feature to let customers use Mercari’s digital payment wallet, Merpay.com, to exchange bitcoins for goods and services.
Founded in July 2019, Basset provides research and analysis tools for forensics and real-time monitoring of cryptocurrency assets to prevent fraud and ensure compliance.
More and more online retailers are enabling shoppers to pay through bitcoins and other cryptocurrencies. Japanese e-commerce giant, Rakuten Inc., already allows shoppers to make purchases with crypto assets.
Mercari, founded in 2013, also operates in the U.S..