Recently, one Redditor reported that bitcoin trade volumes in Japan surpasses the United States and become the second-largest Bitcoin market in the world.
Japan is known as a place where Mt. Gox, a scandalous Bitcoin exchange which bankrupted by losing millions of customers money due to internal hack. After the incident, Bitcoin was a stagnant market where the majority of Japanese people thinking cryptocurrencies including bitcoin are for fraudulent activities.
The situation has changed in past two years. The Japanese government is actively setting up a favorable environment for Bitcoin community. It encouraged the digital currency’s adoption by recently recognizing it like fiat currency. Major Japanese media and TV shows started to feature Bitcoin again this time as disruptive, innovative technology.
Unlike few years ago where no one didn’t bother about bitcoin, many large corporations are showing interest and starting their blockchain related business by partnering with start-ups. Also, many blockchain and bitcoin related start-ups have complete large fundraising in the past few months.
There are more than five bitcoin exchanges just in Japan including Coincheck. Coincheck has been one of the leading bitcoin exchange contributed largely to the growth of the market.
As Coincheck, we put tremendous effort to make Bitcoin usable at restaurants, stores, and merchants. Today, Bitcoiners can pay with Bitcoin at over 1550 stores and websites in Japan.
The bitcoin market in Japan is growing dramatically at high speed. As Coincheck, we will keep looking into the market and continue to be the leading bitcoin venture to drive the bitcoin market in Asia even more.
Coincheck – The easiest way to buy and sell Bitcoin