Japanese Electronic Retailer Is Accepting Bitcoin

January 29, 2018

Japanese Electronic Retailer Is Accepting Bitcoin

One of the largest Japanese electronics retailers Yamada Denki has entered into a partnership agreement with a cryptocurrency exchange bitFlyer to create bitcoin payment services in stores of the company.

According to a press-release, these services were launched in two stores this weekend: the first one is located in Shinjuku, a special district of Tokyo, which is the main administrative and commercial center of the prefecture and attracts a huge number of foreigners, and the second one is located in one of the main business districts of Tokyo.

Yamada Denki stated in a press-release:

"In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion. <...> We believe that we can provide improved service and convenience."

However, there is a one restriction for payments with BTC: a settlement limit of ¥300 thousand ($2,760).

Japan is the world's largest cryptocurrency market, and Bitcoin has become a part of the everyday life of Japanese people. This step taken by Yamada Denki confirms that the demand for cryptocurrency in the Land of the Rising Sun is high, and companies are trying to meet the relevant needs of their customers. Because if not they, then their competitors will do it.

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