Top Brand Japanese retailers to embrace bitcoin payments


A couple days after Japan perceived bitcoin as a lawful strategy for installment, two of the nation's greatest retailers have fixed cooperation agreements with bitcoin traders to start accepting the digital money. 

The two driving retail amasses, Bic Camera and Recruit Lifestyle, have reported trials of a bitcoin installment alternative, as per Japanese daily Nikkei.. 

Bic Camera, a purchaser chain offering gadgets, has joined forces with the Tokyo-based bitcoin trade bitFlyer. The retailer will test the digital cash in two outlets. 

Buyers will have the capacity to pay up to 100,000 yen ($900) utilizing bitcoin, getting reward focuses at an indistinguishable rate as for cash payments.



Recruit Lifestyle, the retail branch of human resources conglomerate Recruit Holdings, is cooperating with another Tokyo bitcoin exchange operator Coincheck to include bitcoin payment option into its AirRegi application.
The step will enable over 260,000 outlets across the country to start accepting bitcoin. Coincheck will process payments made by consumers using the app, converting bitcoins into yen and transferring the funds to the store.
Japan is poised to become one of the leading cryptocurrency markets. Nearly 4,500 Japanese stores are currently accepting bitcoin while over 700,000 outlets actively use other modes of digital payments.

The legislation giving digital currencies legal status as a payment method came into force last week, offering bitcoin an opportunity to be accepted in over a quarter of a million stores and retail locations. Starting in July, purchases using a virtual currency will be exempt from the consumption tax.


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