Topic: [2017-12-19] Major Japanese Automotive Group and Dealerships Embracing Bitcoin (Read 98 times)

One of Japan’s largest used car automotive groups has partnered with the country’s largest cryptocurrency exchange Bitflyer to enable bitcoin payments at its dealerships across Japan. Starting with 26 dealerships, the company also plans to add bitcoin payments to 550 additional locations.

Car Dealerships Accept Bitcoin Via Bitflyer

The Tokyo Stock Exchange-listed Idom Inc. engages in the distribution and sale of used cars. Formerly known as Gulliver International Co. Ltd, the company has been operating a network of stores that buy and sell used cars across Japan since 1994.

The company claims to have the largest market share for the domestic used car market, ranking number one in both sales volume and number of purchases. With a subsidiary in the U.S. and New Zealand, the group also holds a 67% stake in Australian new car dealer operator Buick Holdings Pty Ltd.

Idom announced last week that its specialty imported used car chain called Liberala will start accepting bitcoin on December 20. The chain specializes in Bentleys, BMWs, and Audis. This is in collaboration with Japan’s largest bitcoin exchange by volume, Bitflyer.

The 24 Liberala stores will accept bitcoin payments in amounts up to 100 million yen (~$888,000) per purchase. The stores are located in Hokkaido, Tohoku, Kanto, Chubu, Kansai, Chugoku / Shikoku, and Kyushu.

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