cryptocurrency

Two Companies Tie up with Cryptocurrency Exchange Bitpoint to Accept Cryptocurrencies in Japan


Bitpoint, one of the 16 regulated exchanges in Japan, recently partnered with two companies in the country to enable crypto payments in their day-to-day businesses. Both the companies are involved in the automobile businesses, namely Carchs Holdings and Hinomaru Limousine. The former is an important used car dealership whereas the latter is an airport taxi service.

The exchange announced that it would pilot a trial run with Hinomaru Limousine from November 6 2018 to January 9 2019. According to a report by Bitcoinist, Hinomaru operates a fleet of 362 limousines and 161 taxis. A source familiar with the matter told the news outlet, Bloomberg that if the trial “is successful, it may be expanded to include regular taxi rides.”

Bitcoinist further reported Bitpoint stating, cryptocurrency payments will be accepted for the service between Tokyo’s 23 wards and the city’s two major airports: Haneda and Narita. The types of vehicles available are “High-grade type (Tesla Model S)” for four passengers and “Minivan type (Toyota Alphard)” for four to six passengers, the exchange explained.

The fares range from 19,020 yen ($168) to 37,020 yen for Narita and from 8,300 yen to 15,600 yen for Haneda. To pay with cryptocurrency, passengers need to have a Bitpoint account and use the Bitpoint wallet app, for either Android or iOS, on their smartphone. The exchange’s wallet currently supports payments in bitcoin, bitcoin cash and ethereum.

Carchs Holdings have 48 dealerships throughout Japan. With the help of the exchange, two Carchs dealerships has started accepting cryptocurrency payments from beginning of this month and the trial run will continue till January 9, next year. However, people need to have a bitpoint exchange account in order to pay through cryptocurrencies.

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