Japanese restaurant first in the world to accept cryptocurrency

Belgian beer store allows customers to order food and drinks with XEM
28 February 2018   3374

NEM's native token XEM got an interesting use case. Tokyo-based Belgian beer and traditional food store St. Arnould accepts XEM is a legitimate payment. The owner of the store runs the business for 8 years already, and the last 2 of them - dealing with the cryptocurrency. It all started with an occasional customer who offered to pay with XEM. The owner, Mr. Yousuke Sato got curious and allowed the transaction.

I became interested in virtual currencies about five years ago and began tweeting about them. I thought it would be interesting to accept payment in a virtual currency, so I said yes.

 

Yousuke Sato

Restaurant owner

Since then, the restaurant has gained an enormous popularity among virtual currency adepts and was largely accepted as the first such restaurant in the world. Even though recent hack of CoinCheck has severely damaged the reputation of NEM, it didn't affect the popularity of the restaurant in the slightest.

The market for virtual currency is still young so it’s only natural that it has become a target of speculation, but I think it has potential as a currency that is not restricted by country. I think it’s too early to say what will happen to virtual currencies in the future.

 

Yousuke Sato

Restaurant owner

Japan has already become a trending place for the virtual currencies as means of payment. In Tokyo alone there are an electronic retail franchise Yamada Denki, BBQ restaurant Nikugatou, sushi restaurant Numazuko. In Nagoya there is a hair salon Hair Grande Seeek.

Coincheck to Receive FSA License

Coincheck exchange was hacked last January and $ 533000000 worth NEM stolen
11 January 2019   1249

The Financial Services Agency of Japan allowed the Coincheck cryptocurrency exchange to continue its work, reports Cointelegraph.

Coincheck exchange was hacked last January. NEM cryptocurrency was stolen in the amount of 58 billion yen ($ 533 million) according to the price of that time. Soon after, the Japanese authorities began to tighten the regulation of the industry, and Coincheck became the property of the online broker Monex.

In December last year, it was reported that the Japanese regulator issued a license to Coincheck, as well as plans to resume the stock exchange. Against the background of these transformations, the marketplace improved the risk management system and gradually resumed the operation of services.