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Japanese electronic retail chain starts to accept bitcoin at all its locations

10 July 2017 21:00, UTC
According to Bitcoin.com, Bic Camera is a Japanese electronics giant. It will start accepting bitcoin at all of its locations across Japan. The reason is increased popularity of the crypto currency.

Bic Camera started accepting bitcoin in April for the first time due to recognition of the digital currency by the Japanese government and partnership with Bitflyer, Japan’s top bitcoin exchange service. At that time two Bic Camera stores started accepting bitcoin payments. According to the company executives, the stores were a testbed for bitcoin and if successful, this option can be applied to all company stores in the country.

The third chain store allowing bitcoin payments was the electronics hypermarket in Akihabara, the world’s leading technology district. It happened in June. According to Bic Camera, bitcoin payments are popular not only for foreign visitors but also for Japanese customers. Judging by feedback in local press, bitcoins will be accepted for payment at all chain stores starting from July 14.

The Bic Camera group of stores consists of three brands: Bic Camera, Sofmap and Kojima. The latter two are Bic Camera subsidiaries. As of August 2016, the group operates 39 Bic Camera stores, 31 Sofmap stores and 139 Kojima stores located throughout Japan.

While Sofmap was not mentioned in the publication, Bic Camera announced that some of Kojima stores will accept bitcoin. According to Nikkei:

“Since bitcoin is used by many Japanese consumers, not just by foreign visitors, Bic Camera will also start taking the virtual currency at some outposts of its subsidiary Kojima, which are typically found in the suburbs”.