Japan Could See 20,000 Bitcoin Accepting Merchants in 2017
As Japan prepares to enforce regulations upon bitcoin exchanges in the country this, a development that was encouraged by the local bitcoin industry, the number of merchants accepting the cryptocurrency is expected to quintuple to 20,000 this year. By 2016’s end, there were over 4,2000 bitcoin-accepting merchants and storefronts in the country, quadrupling from the total from 2015. The frenetic growth followed a bill, approved by the Japanese cabinet, to recognize digital currencies as real money, or legal tender. Tokyo’s ResuPress, a bitcoin payment processor that is also the operator and....
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Bitcoin exchange Quoine and payments network Econtext recently struck a deal that can allow over 20,000 online and physical retailers in Japan to start accepting bitcoin payments soon. Merchants that are already using Econtext's payment processing services in thousands of online stores can accept bitcoin payments without having to register under a bitcoin-specific processor. This deal has been in the works since last year and is already available to businesses this month. "For us, it's a pretty significant deal," said Quione CEO Mario Gomez Lozada. More Merchants Accepting Bitcoin....
The Japanese bitcoin market has added a significant number of bitcoin merchants this past year. Local publications such as NHK revealed that there were over 4,200 bitcoin-accepting shops in Japan by the end of 2016, demonstrating roughly an annual growth rate of 4.6x. Rapid increase in the acceptance of bitcoin by merchants can be directly attributed to the Japanese government’s recognition of bitcoin as money. In May of 2016, the National Diet of Japan passed a bill to regulate digital currency exchanges, declaring bitcoin as a legal form of money. Establishment of Bitcoin’s Legality.....
A deal between bitcoin exchange Quoine and payments network Econtext will allow more than 20,000 online and eventually physical merchants to accept bitcoin in Japan. The move essentially allows merchants that already use Econtext's payment processing services in thousands of online stores to accept bitcoin payments without the need for a bitcoin-specific processor. The service will be available for businesses to use today. Quoine CEO Mario Gomez Lozada said his company had entered into discussions with Econtext last year, and has since done extensive integration work to connect it to....
From less than a thousand, the number of merchants accepting Bitcoin in Japan has grown by more than four times in the last twelve months, according to a new survey by ResuPress Inc, the company that runs Coincheck, one of the major Bitcoin exchanges in the country. Aside from the Bitcoin exchange, ResuPress also provides Bitcoin payment processing for merchants very similar to the service BitPay offers. 4,200 Japanese shops accept Bitcoin. According to NHK, the survey shows that the number of stores that accept the digital currency especially on the Internet in the Japanese market....
One factor that's going to help Bitcoin is the fact that government paper looks ever more shaky. Bitcoin had a great 2016, becoming the world’s top performing currency. However, 2017 so far has been a rollercoaster ride – 20% up, then 35% down, then bouncing back. So what does this year hold? Will Bitcoin go through the roof, or hit the floor? One factor that’s going to help Bitcoin is the fact that government paper looks ever more shaky. Demonetisation in India and Venezuela told people their bank notes were effectively worthless – making Bitcoin, which doesn’t depend on any individual....