Japan is one of the most progressive nations when it comes to accepting cryptocurrency payments. There are many places which are accepting Bitcoin payments in Japan. The list continues to grow. The latest major name to join the Bitcoin revolution is that of Yamada Denki - one of the biggest electronic retail brands in Japan. The organization now supports Bitcoin payments in two of their stores in Tokyo - and will soon have all their stores across Japan accept these payments.
The first of the two Yamada Denki stores that will accept Bitcoin payments is in Shinjuku, which is an area next to the Tokyo Railway Station and the other store is located in the primary business district of Tokyo. In a press statement, Yamada Denki stated:
“In addition to diversifying means, we will implement initiatives to improve bitcoin recognition and usage promotion. With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas.”
This move comes as a solution to perhaps the biggest problems of cryptocurrency - that of a real use case. Yamada Denki's announcement comes just days after Brisbane Airport's plans
to support cryptocurrency payments! This is an interesting development and hopefully, many more major retail names would begin accepting Bitcoin payments.
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Those looking forward to shopping at Yamada Denki using Bitcoins will have a limit of 300,000 Yens ($2,670) beyond which they will need to pay using regular payment methods. Yamada Denki supports Bitcoin payments in a partnership with BitFlyer, one of the biggest cryptocurrency exchanges in Japan (which is soon about to expand to Europe
). BitFlyer is providing Point of Sale (PoS) infrastructure to facilitate these payments at the stores.
This move comes a year after Bic Camera, another Tokyo based electronics retail firm started accepting cryptocurrency payments. For those looking forward to making cryptocurrency payments, Japan is perhaps the most accepting nation though other countries are on the rise as well. Stay tuned with CryptoCrimson for more cryptocurrency news updates