Japanese Electronics Retail Giant Launches Bitcoin Payments

Bitcoin adoption in Japan seems to be forging ahead with major Japanese consumer electronics retailer Yamada Denki announcing that it has partnered with cryptocurrency exchange BitFlyer to add a bitcoin payments service in two of its stores.

 

 

The company said:

“In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion.”

The company indicated that they believe the acceptance of Bitcoin can provide improved service and convenience.

This is some good news from a country recently plagued with bad news after the massive hack at the Coincheck cryptocurrency exchange.

Japanese cryptocurrency exchange Coincheck announced on Friday, Jan. 26, that it is suspending all withdrawals after a Ripple payment worth $123mln left its wallet as well as a transaction of 500 million NEM (XEM) worth around $600 million at the time.

 

The sudden announcement sent a shockwave through the trading community and Cryptocurrencies slumped after one of Japan’s biggest Bitcoin venues halted client withdrawals in a country that’s still wary of crypto exchanges four years after the collapse of Mt. Gox.

Full story – Click Here 

 

Coincheck has consequently indicated that it will repay all customer funds from their cash holdings: – Full story – Click Here

 

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