Yamada Denki is one of the largest retail giants in Japan. According to news, the giant launched Bitcoin payments at two Tokyo-based stores before the official rollout in all of its stores.
The launch occurred over the weekend and the retailer is now officially accepting Bitcoin at a store based in Shinjuku which is a major commercial center in Tokyo. According to the retailer, the second store is located adjacent to this first location.
As the retailer announced:
“In addition to diversifying means, we will implement initiatives to improve bitcoin recognition and usage promotion. With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas.”
The payments in Bitcoin will see a top cap of 300,000 yen ($2,670) and the retailer has partnered with major Japanese bitcoin exchange company bitFlyer to enable bitcoin payments through point of sale (POS) systems.
This initiative to accept Bitcoin follows the announcement by an electronics retailer Bic Camera for its own trial to accept Bitcoin in April last year. The trial proved beyond successful. In parallel, South Korea’s largest eCommerce platform is making the same initiative and has just launched Bitcoin payments alongside 11 other cryptocurrencies including Ethereum and Litecoin.
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