Japanese Exchanges Will Create Insurance to Help Local Stores Accept Bitcoin Instantly

Bitflyer and Coincheck, the major exchanges in Japan, are partnering with major Japanese insurance companies to offer merchant insurance to protect them from Bitcoin transactions that do not go well, Nikkei said. "The policies will cover losses on lost payments," the publication described, adding that:

"The hope is that more stores will adopt bitcoin as a payment method if they are not forced to simply eat such losses."

We recently reported on the number one electronics purchasing district in Japan, Akihabara, accepting bitcoin. Both Coincheck and Bitflyer are continually assisting shopkeepers across Japan to begin accepting bitcoin, such as the Bic Camera and some popular capsule hotels.

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