Bitcoin’s value has been surging in recent weeks in Japan. The cryptocurrency is now being accepted at some major electronics stores, and soon by one airline. Lawmakers in Tokyo have stepped in and are helping Japan to lead in this growing arena of financial technology.
Bitcoin Boom in Japan: Merchant Adoption Grows Four-Fold in One Year
Olusegun Ogundeji reports: From less than a thousand, the number of merchants accepting Bitcoin in Japan has grown by more than four times in the last twelve months, according to a new survey by ResuPress Inc, the company that runs Coincheck, one of the major Bitcoin exchanges in the country.
Aside from the Bitcoin exchange, ResuPress also provides Bitcoin payment processing for merchants very similar to the service BitPay offers.
4,200 Japanese shops accept Bitcoin
According to NHK, the survey shows that the number of stores that accept the digital currency especially on the Internet in the Japanese market increased to about 4,200 shops as of December 26.
Estimated to be about 4.6 times higher than the result of a similar survey a year ago, the new finding suggests that there were probably about 900 of such merchants a year ago.
It also hints that Bitcoin’s use has spread to various industries. Some examples include the fashion industry in areas such as beauty and nail salons, remodeling companies, as well as eating and drinking establishments … (read more)