Latest cryptocurrency Update Japan Can Now Pay Utility Bills With Bitcoin
People who are new to the exciting, innovative world of Bitcoin ask one common question. “What can I pay for with Bitcoin?” Well, in Japan, you can now pay for your utilities with Bitcoin. Japan’s largest Bitcoin exchange, Coincheck, has partnered with major Japanese energy company E-Net Systems and Mitsuwa industry Co. LTD to allow bitcoin users to pay bills with bitcoins. This will be the first-ever energy company in Japan to support payment of electric bills with bitcoins, directly.
Japan Can Now Pay Utility Bills With Bitcoin Cryptocurrency
Coincheck is the BitPay of the Far East
Coincheck japans-largest-bitcoin-exchange and they progress they have made over the last two years has been staggering. Just within the last few months, Bitcoin business has boomed for Coincheck, as Coincheck executive Kagayaki Kawabata told.
“Since last we spoke, we have over 500 million USD transaction volume per month. Currently, there are over 10,000 merchants using our bitcoin payment services. We now support 6 cryptocurrencies, including Bitcoin, Ether, Ether Classic, Lisk, Factom, and Monero. As an exchange in Japan, we support the most crypto-currencies. Furthermore, having global customers in mind, we recently changed our domain name from coincheck.jp to coincheck.com”
Now, they have added this partnership with E-Net, essentially making a new business arm for those eager to use their Bitcoins on the essentials of modern living. We asked Mr. Kawabata what kind of numbers in clients are expected to begin using Bitcoins, and how might this expand the customer base.
“However, we are planning to attain 10,000 users in the first year,”
“Also, there was demand from expats in Japan wishing to pay utility bills with bitcoin so we will also target this segment.”
Immediate benefits for those who use Bitcoin to pay their utility bills include an automatic price reduction of up to 6% on their cost of electrical services for paying with Bitcoin. These savings will be credited to the users Coincheck wallet. In the near future, other services like gas, water, and mobile service will also be added to Bitcoin payment eligibility.
Businesses around Japan have been quick to begin building systems for accepting Bitcoin payments an create blockchains since Japan officially accepted Bitcoin as a national currency in April. This new Bitcoin utility payment program, known as Coincheck Denki.