Marui, a large department store chain in Japan just partnered with Bitflyer (a bitcoin exchange) to accept bitcoin payments starting on August 7. It is the first major department store chain in Japan to accept bitcoin.
“Marui is a major department store chain with stores in Tokyo and other large Japanese cities. […] Marui targets a young, stylish audience between the ages of 20-35.”
Marui Group announced their partnership with Bitflyer on friday. At first only one of its location will support the new payment method, but they have the intention of expanding to more stores if the trial goes well.
This just adds to the current trend; an increasing number of merchants around the world are starting to adopt the modern payment method. This is can only be good for the price of cryptocurrencies as adoption rate is key to price appreciation.
It’s simple, give people ways to spend their bitcoin and their perceived value will go up. Japan is just one of the countries that’s really starting to appreciate the blockain technology. The Netherlands, Denmark, Sweden, India, China and many others are also bitcoin friendly countries where cryptocurrencies are becoming increasingly popular for both merchants and consumers.
Good reads on the topic:
- Rollout of 260,000+ Bitcoin-Accepting Stores in Japan Begins
- Media Frenzy in Japan as Bic Camera Starts Accepting Bitcoin
- BitFlyer Deal Brings Bitcoin Option to 48,000 Online Stores in Japan
- 7 COUNTRIES THAT LOVE BITCOIN (AND HOW THEY SHOW IT)