Share this article
Japanese Electronics Retail Giant Launches Bitcoin Payments
Major Japanese electronics retailer Yamada Denki is partnering with the BitFlyer exchange to trial bitcoin payment in two of its stores.
Updated Sep 14, 2021, 1:54 p.m. Published Jan 29, 2018, 12:15 p.m.
Make us preferred on Google
Major Japanese consumer electronics retailer Yamada Denki has partnered with cryptocurrency exchange bitFlyer to add a bitcoin payments service in two of its stores.
Launched this weekend, according to a press release, one of the stores to receive the new service is based in Shinjuku, an area of Tokyo that attracts large numbers of foreign visitors. The other store is adjacent to Tokyo's main business district.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company said:
"In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion."
With the launch of the bitcoin payment system, the company indicated it aims to respond to the diverse needs of its customers both in Japan and overseas. "We believe that we can provide improved service and convenience," it said.
Yamada Denki has set the settlement limit of bitcoins equivalent to 300,000 Japanese yen ($2,760) per account. Bitcoin is trading around $11,200 (1,218,016 JPY) at the time of writing, according to CoinDesk's Bitcoin Price Index.
The moves comes after another Japanese electronics retailer, Bic Camera, said last April that it will test a new point-of-sale system (PoS) that will allow customers to purchase goods with bitcoin, also in partnership with with bitFlyer. Later in July, the firm said that it is expanding a bitcoin payment option to all of its stores nationwide.
And, in August, Tokyo-based Marui, a department store chain, tested bitcoin payments at one of its locations in Shinjuku. The trial set a cap of ¥100,000 (about $900) on bitcoin transactions.
Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in bitFlyer.
Editor's Note: Statements in this article have been translated from Japanese.
Yamada storefront image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Anthony Scaramucci-linked AVAX One tumbles 32% on uncertainty around shareholder sales
The firm, which holds AVAX tokens and related Avalanche ecosystem assets, registered roughly 74 million shares held by insiders.
What to know:
- Shares of AVAX One, a digital asset treasury firm advised by Anthony Scaramucci, fell more than 30% after the company filed to register up to nearly 74 million shares held by insiders as available for sale.
- The registration, which enables early investors to resell previously restricted stock, stoked fears of dilution.
- AVAX One's move reflects broader pressures on crypto-native public firms whose stocks trade at steep discounts to the value of their token holdings, though it remains unclear if or when the registered shares will be sold.
Top Stories
