Bitcoin at ATMs: Japan Moves Forward

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The formal adoption of Bitcoin as an accepted and recognized currency is growing in economies of global importance such as Japan. Japan has seen a massive push in the adoption of bitcoin almost immediately after the initial initiative to adopt a regulatory framework and tax exemption for crypto currency and currency conversion operations. The trade volume of bitcoin exchanges rose and the most important, unlike many other regions.

Peach announced the integration of bitcoin payments by the end of 2017 as a more important part of its long-term vision to accommodate tourists in Asia. An important aspect of this Peach project is that the company is operated by Japan’s largest airline – ANA – which has a 66 percent stake in Peach. Peach’s decision to accept bitcoin payments for its flight bookings will increase demand for bitcoin in Japan.

Since April 2017, the Japanese industry bitcoin has seen the facilitation of similar agreements and the integration of bitcoin payments like Peach. Specifically, Bic Camera, an influential electronics giant in Japan and AirRegi, a leading Point of Sale (PoS) service provider to approximately 260,000 restaurants and merchants across the country, announced its integration of bitcoin payments into partnership With bitcoin market, platforms like bitFlyer.

The announcement by Recruit Holdings, the parent company and the AirRegi operator, was particularly a breakthrough for the Japanese bitcoin industry, as for the first time in the world, hundreds of thousands of local vendors, restaurants, bars and cafes could accept Bitcoin Throughout the country with its existing PoS systems.

Japan’s most popular PoS application, AirRegi, is also compatible with Alipay, China and the world’s largest financial application, with a market cap of $ 60 billion and an active user base of 400 million users. The bitcoin integration agreements of Bic Camera and AirRegi played as factors driving the growing adoption of bitcoin in the country.

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Major Japanese automaker Oki plans to launch Bitcoin ATMs, or BTM, to help users benefit from greater liquidity and convenience by buying and selling digital currency.

ATM manufacturers are trying to provide more efficient ecosystems for bitcoin users and companies have begun offering bitcoin payment options to their customers. With this sum of impulses Bitcoin’s integration in the formal Japanese commercial dynamic is certainly guaranteed.

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