Two Major Companies in Japan Started to accept Cryptos

By Chetna Phour

One of Japan’s 16 regulated cryptocurrency exchange Bitpoint partnered with two major companies in Japan to enable crypto payments for their businesses. Now Carchs Holdings and Hinomaru Limousine will be able to receive payment in cryptos. Carchs Holdings is a major used car dealership while Hinomaru Limousine is an airport taxi service. The recently announced partnership will increase the merchant cryptocurrency adoption in Japan.

Bitpoint is spot trading virtual currency exchange which was founded in 2016. The cryptocurrency exchange is based in Tokyo, Japan.

Bitpoint and Carchs Holdings

Carchs Holdings Co. Ltd. was established in 1989. The company purchases, sell, and distribute automobiles through its retail stores and also export through the online store. Carchs Holdings also deals in spare parts and accessories of automobiles through its online store. Currently, Carchs Holdings has 48 dealerships throughout Japan. Seventeen locations are in Kanto, ten in Kansai, ten in Kansai, ten in Hokuriku and Chubu area, eight in Hokkaido and Tohoku, and three in Chugoku, Kyushu, and Shikoku region.

Recently Bitpoint announced that partnership with Carchs Holdings to enable the cryptocurrency payments for its business. Two Carchs dealership has started to accept payment in cryptocurrencies with the assistance of Bitpoint. It is a trial phase which will end on 9th Jan 2019. Two dealerships which have started to accept the crypto payment are Carchs Nangang in Kansai area and Carchs Mega Sendai in the Hokkaido / Tohoku area.

According to the announcement, the companies are also planning to develop cryptocurrency payment platform at all Carchs dealership in the near future.

Bitpoint and Hinomaru Limousine

Hinomaru Limousine was established in 1981 and currently has a fleet of 362 limousines and 161 taxis. Bitpoint announced that the airport taxi service would accept the cryptocurrencies till 9th January 2019 in a trial phase. According to the sources, if the trial is successful, the companies will extend the crypto payment service to regular rides.

According to the announcement, the crypto payments will be accepted for the services between 23 ward of Tokyo and two major airports of the city Haneda and Narita. The service will be available on high-end vehicles such as Tesla Model S and Minivan type such as Toyota Alphard. To pay in cryptocurrencies, the passengers must have a Bitpoint account and Bitpont Wallet app. Currently, the Bitpoint wallet supports payments in Bitcoin, Bitcoin Cash, and Ethereum.