RemixPoint is reportedly working with Hinomaru Limousine Inc. to allow passengers to use their cryptocurrencies to pay for rides between Tokyo and Japan’s main airports. The Bloomberg on Nov.5 2018 reported the revelations of the new phase of Cryptocurrency acceptance in Japan.
According to reports, the trial phase of the service is expected to commence this month. The service will initially cover rides between Tokyo’s 23 wards and either Narita or Haneda airports. Allegedly, the service will accept Ethereum, Bitcoin, and Bitcoin Cash. A formal announcement of the same is expected on Tuesday.
Hinomaru is a Tokyo-based private company operating a fleet of 161 taxis and 362 limousines. Sources believe that the successful execution of the partnership between RemixPoint and Hinomaru Limousine Co. will inevitably result in the expansion of the project to include taxis.
BITPoint: The Advocate of Adoption
It is noteworthy that Remixpoint operates BITPoint cryptocurrency exchange, one of the leading and licenced cryptocurrency exchanges in Japan. Last Year, BITPoint partnered with Peach Aviation to offer Bitcoin payments tech to the company. The company became the first Japanese airline to accept Bitcoin payments for a flight ticket. In making the announcement, the airline was intent on encouraging regional companies and local government to advocate the use of the digital asset. Their partnership agreement stated that:
“We will jointly install Bitcoin ATMs where customers can withdraw cash from Bitcoin,”
In May 2017, BITPoint announced its intent on providing hundreds of thousands of retail outlets in Japan the ability to accept Bitcoin. Speaking at the time, BITPoint’s president Genki Oda explained that :
“By going through a company providing payment terminal services to shops, we have the possibility of increasing its use at one stroke. It’s easier than talking to lots of individual retailers.”
Japan’s Acceptance of Crypto
In April 2017, Japan’s Financial Services Agency issued a text indicating the legalisation of Bitcoin and virtual currencies. The legalisation of the cryptocurrency received wide acceptance in the market. Notably, consumer electronics giant Bic Camera accepted it immediately after the implementation of the legislation.
Additionally, the 2018 decision to allow Japanese cryptocurrency exchanges to regulate themselves has ignited activity in the crypto market. Arguably, the decision to allow for self-regulation may ultimately result in regulation of cryptocurrencies at a global level.