Japanese Consumer Electronics Retailer Accepts Bitcoin

Two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future
29 January 2018   457

Yamada Denki, one of the largest Japanese consumer electronics retailer, has partnered with Bitflyer to trial bitcoin payments starting on January 27. Initially, two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future.

Two directly operated stores have started accepting bitcoin: Yamada Denki Labi Shinjuku east exit pavilion and Concept Labi Tokyo. These locations have many foreign visitors, making them good test locations for the digital currency integration, the company said.

Japanese Consumer Electronics Retailer Accepts Bitcoin
Yamada Denki(LABI) Shinjuku Higashiguchikan, Tokyo, Japan

We will implement initiatives to improve bitcoin recognition and usage promotion.
With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas. We believe that we can provide improved service and convenience.


Yamada Denki statement

There is a limit of 300,000 yen (~USD$2,760) for using this payment option. To commemorate the partnership, Bitflyer is giving away 500 yen to the first 500 customers paying with the digital currency using Bitflyer wallet at each store.

Through collaboration with Yamada Denki, we are contributing to improving the convenience of more customers in Japan and overseas.


Bitflyer statement

Recently, we have reported that Japanese cryptocurrency trading and exchange platform BitFlyer has acquired the payment license to operate in EU.

ACINQ to Release Lightning API For Bitcoin Mainnet

Strike is API for easy acception of Lightning network payments
25 May 2018   33

Developers from ACINQ presented a version of Strike API for Lightning-payments in the main bitcoin network.

Strike is an API for easy acception of Lightning payments. From a technical point of view, the service works as follows: ACINQ receives and aggregates incoming payments, and then periodically sends transactions to the recipient's wallet. In other words, companies can offer their clients instant and low-cost payments, receiving funds through the usual cash transaction.

We take a 1% fee on payments, and that’s it. Automated payouts to your Bitcoin wallet are free of charge, because we batch them among merchants. The threshold for automated withdrawals can be set between 0.1–1 BTC.


Also, users can make a payment to the wallet manually, however in this case you will have to pay a commission of 0.5 mBTC.

According to ACINQ representatives, although using Strike and assuming the need to trust a third party, the level of risk is minimal, since the service sends an onchain-transaction every time the total amount of payments reaches a user-adjustable threshold.

The developers noted that the Strike integration with the WooCommerce plugin is currently underway. In addition, ACINQ is considering the possibility of partnership with the Canadian Internet company Shopify, which specializes in developing software for online and retail stores. The company serves 500,000 trading companies with a combined turnover of $ 45 billion.