Japanese retail giant launches Crypto Assets payment service

Recently, a well-known Japanese retail company announced the integration of its cryptocurrency wallet and payment application, providing consumers with a new way to use Bitcoin for everyday purchases.

According to the latest news, users can now deposit their held Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) into the company's payment account. This mobile payment application has been widely used by many large and medium-sized retailers in Japan.

It is worth noting that the company has allowed consumers to convert their loyalty points into Bitcoin and other Crypto Assets as early as 2019. This integration of Crypto Assets wallets, electronic currency services, and payment applications enables users to spend Crypto Assets at various retail locations, including well-known fast-food chains, large department stores, and convenience stores.

It is understood that the exchange between fiat currency, electronic currency, and Crypto Assets is completely free, but the minimum spending amount is 1000 yen (, which is about 9.40 USD ), with a monthly spending limit of about 100,000 yen (, which is about 940 USD ).

To use this new feature, users need to become a member of the company and set up a trading account in their Crypto Assets wallet. To encourage consumers to use this new service, the company will also provide small points as rewards.

This initiative will undoubtedly further promote the application of Crypto Assets in daily life, providing Japanese consumers with more diverse payment options. As the payment channels for Crypto Assets continue to expand, we can foresee a broader application prospect for digital assets in the retail sector.