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Major Japanese auto dealer starts to accept Bitcoin payments

Car buyers in Japan can now buy pay in Bitcoin following a partnership between a major car dealership Idom Inc and Japan’s largest cryptocurrency exchange Bitflyer.

Formerly known as Gulliver International Co. Ltd and operating in Japan since 1994. The company is starting with 26 dealerships and will add Bitcoin payments to 550 additional locations.

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The company has a subsidiary in the U.S. and New Zealand. The group also holds a 67% stake in Australian new car dealer operator Buick Holdings Pty Ltd.

It deals with domestic used cars and claims a number one rank both in sales and number of purchases.

The company owns Gulliver, which has 550 stores across Japan and records sale volume of about 300,000 units and cumulative purchase volume of 3 million units.

The move also comes after another auto group, L’operaio, started accepting Bitcoins at its three dealerships in Tokyo. The maximum it accepts in Bitcoin payments is 2 million yen (~$18,000) worth per purchase.

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The two are good news for Bitcoin, which is not new in the merchant markets. Just so many merchants accept Bitcoin payment across all industry types.

 

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Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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