Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region
Bitcoin is surging in Japan in
regards to popularity and
trade volume, since the
country legitimized the digital
currency as a legal form of
payment this past April. Now
one of Japan’s largest
discount airline providers
Peach Aviation Ltd. has
announced it will be the first
Japanese service to accept
bitcoin for airline tickets.
Japanese Airline Service
Peach Aviation Will Soon be
Accepting Bitcoin for Flights
Japanese Airline Accepts
Bitcoin As Cryptocurrency
Fever Spreads Across the
Region Headquartered in
Osaka Japan, Peach Aviation
is a well known Japanese air
carrier service offering low-
cost air travel since 2011.
The company stated that
bitcoin will be accepted for
flights and services at some
point towards the end of
- Peach said the recent
law change regarding the
digital currency had bolstered
the business move. According
to reports Peach also plans
to introduce bitcoin to other
partner companies and local
governments.
Bitcoin Fever Takes Hold in
Japan
The news of Peach Aviation
accepting bitcoin follows
other merchants in the region
accepting bitcoin like the
company Bic Camera.
Furthermore, the
announcement comes at a
time where Japanese bitcoin
trade volumes and price
spreads have been through
the roof.
According to Charles Hayter
of the bitcoin data and
analysis website
Cryptocompare at the
moment in Japan, “USD-BTC
markets are trading at $2100
whilst the JPY-BTC pair is
trading at the equivalent of
$2500.” Over the course of
the past 32 hours, the
decentralized currency has
been trading at a 19 percent
premium, and Hayter says it
is due to “Bitcoin fever taking
hold.”
The country has taken the
spotlight in overall global BTC
volume as Japanese volumes
are 42-50% of trading with
132k BTC volume or $300
million per day, explains the
Cryptocompare founder.
Hayter describes the current
trading environment in Japan
stating;
The Japanese have caught
the Bitcoin bug and
inefficiencies across markets
are being exposed. Irrational
exuberance is taking hold as
the Japanese stumble over
each other to enter the
Bitcoin market and drag up
international prices.
Now Bitcoin Enthusiasts Can
Fly to 22 Destinations Across
Asia Using Bitcoin
The Japanese Peach Aviation
will join other global airline
services that accept bitcoin
for flight tickets like the
Latvian airline, Airbaltic, LOT
Polish Airlines, and more.
Alongside this, bitcoin
businesses like Coincheck
and Bitflyer aim to sign up
thousands more Japanese
merchants this summer. As
bitcoin fever takes hold in the
country, Japanese residents
from the region and
international travelers will be
pleased to know they can fly
to over 22 destinations
across Asia utilizing bitcoin
as a form of payment.