Japan’s Biggest Railway Company Is Looking to Accept Cryptocurrency Payments
Japan’s biggest railway and subway operator, the Japan Railways Group (JR Group), is reportedly looking to add cryptocurrency payment options for its users, in a move that could see millions of Japanese individuals use cryptos to pay for transportation.
According to mainstream commercial news network ANN News, the JR Group could establish cryptocurrency payment options through a partnership with a major bank, that could also see it launch a cryptocurrency company, believed to be an exchange.
The new system would see JR Group patrons to top up their Suica payment cards – prepaid e-money cards that allow them to pay for both goods and services in Japan – with cryptocurrencies. Data released by the company shows that, as of March of last year, 70 of these cards were issued.
According to Cointelegraph Japan, the cryptocurrency exchange would be called Decurret, and has already been licensed by Japan’s Financial Services Agency (FSA) to operate in the country. It could start trading on April 16, with bitcoin, bitcoin cash, litecoin, and XRP trading pairs. ..Read more..