Bitpoint, a recognized and regulated exchange in Japan, has partnered with two other companies to offer crypto services. The exchange has signed an agreement with Hinomaru Limousine and Carchs Holdings to start accepting crypto payments. More companies enter the virtual currency market allowing customers to pay using digital currencies. According to Bloomberg, the deal is part of a trend to move cryptocurrencies to a new level.
Bitpoint Facilitates Cryptocurrency Payments
One of the 16 regulated exchanges in the country, announced a new partnership with two companies in the country. The Tokyo-based Hinomaru Limousine will be implementing a cryptocurrency payment trial between November 6 and January 9. The company offers an airport taxi service.
As per the information provided by Bloomberg, the firm has 362 limousines and 161 taxis. According to sources familiar with the matter, if the trial is successful, it may be expanded to regular taxi rides.
The main intention of this partnership is to move virtual currencies beyond financial speculation. This would allow for an increased number of crypto retail payments. This new partnership will include services between the Haneda and Narita airports. The vehicles available are the Tesla Model S and Toyota Alphard.
In order to process the payment, users must have installed the Bitpoint wallet app and have an account at Bitpoint. The fares range from 8,300 ($73.2 dollars) yen to 37,020 yen ($326.5 dollars). The payments can be performed using Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH).
Another partnership was announced by Bitpoint at the beginning of November. The exchanged announced a new alliance with the company Carchs Holdings Co. Ltd. The firm operates 48 different dealerships in Japan.
The partnership allows two Carchs dealerships to start accepting virtual currency payments on November 1. In order to test the results, the company will accept them until January 9, 2019. The stores are located in the Hokkaido/Tohoku area and in the Kansai area.
Although the market has been in a bear trend during the whole year, companies continue to embrace virtual currencies. In the future, more firms could start accepting virtual currencies as a means of payment.
This is not the first time that a Japanese company accepts virtual currencies. The card dealership L’Operaio started accepting cryptocurrencies in March. All the purchases up to $1 million dollars can be made using Bitcoin.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
