Japanese Company to Accept Bitcoin Via Bitflyer

The 24 used car dealerships will start accepting bitcoin on December 20
19 December 2017   1361

Idom Inc., one of Japan’s used car automotive groups has partnered with the country’s largest cryptocurrency exchange Bitflyer to enable bitcoin payments at its dealerships across Japan.

The Tokyo Stock Exchange listed Idom Inc. involved in the distribution and sale of used cars. Formerly known as Gulliver International Co. Ltd, the company has been operating a network of stores that buy and sell used cars across Japan since 1994.

Idom Inc. announced last week that its imported used car chain called Liberala will start accepting bitcoin on December 20. The chain specializes in Bentleys, BMWs, and Audis.

The 24 Liberala stores will accept bitcoin payments in amounts up to 100 million yen ($888,000) per purchase. The stores are located in Hokkaido, Tohoku, Kanto, Chubu, Kansai, Chugoku / Shikoku, and Kyushu.

Starting with 26 dealerships, the company also plans to add bitcoin payments to 550 additional locations.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   102

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.