Japan’s Named Companies & Financial Service Providers to Embrace Cryptocurrency

Japan’s Named Companies & Financial Service Providers to Embrace Cryptocurrency

Bitcoin Business NEWS
Apr 13, 2018 by Pooja Nagpal
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Japan named companies are expanding their operations in cryptocurrency for the payment processes and investments.
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Yahoo Japan is to purchase a minority stake in Tokyo’s crypto exchange

Yahoo in Japan announced on Friday that it is going to have a minority stake in one of the Tokyo’s cryptocurrency exchange named BitARG.

Yahoo Japan is the biggest auction site in Japan. It has decided to buy stake through a subsidiary with a 40% of stake. Hence, Yahoo Japan is one of the biggest providers of financial services in Japan that is going to pass off all the security concerns and is ready to join the cryptocurrency industry after Monex group.

Although Yahoo Japan has not disclosed any particular amount how much they are going to invest in this deal. But a person associated with this matter said the investment can go up to approximately $ 18 – $28 million which is more or less equal to 2 to 3 billion yen. On the other hand, Shares of Japan Yahoo went down by 0.2% in comparison to the Nikkei average that gets 0.6% raise which is considered as the benchmark in the Japanese stock market.

After Monex decision of buying a hacked cryptocurrency exchange, this is the second largest financial service provider which is going to step in digital currency industry.

SBC Medical group partners with Bitflyers to accept cryptocurrency for their services

SBC medical group, the parent company of Shonan beauty clinic, Japan has announced a partnership with Bitflyer, the payment processor and cryptocurrency exchange in Japan.

This deal implies that all the 74 Shonan beauty clinics will accept the cryptocurrency as the payment given by their customers for the services but there is a limit on how much one can spend. As of now, bitcoin purchase is $18,700 USD, nearly equal to 2million yen which is the maximum amount of per transaction.

During the press release, Bitflyer said that they have introduced BTC to many industries’ thousands of merchants. The number is increasing day by day. Introducing Bitcoins for domestic & across borders and SBC medical will become more convenient for the customers to do payment for the services they get.

Bitflyer has signed with named firms from Japan and beyond. The list includes BIC camera – the retail chain, Maruri Group – Departmental stores, Hapitas – the point websites, Samantha Thavasa Corporate Limited. Bitflyer also provides insurance to the customers and covers the failed transactions that involve BTC network.