Japanese luxury car dealership L’Operaio will become the first of its kind to accept cryptocurrency payments. Payments of BTC, ETH, ETC, LSK, MONA or BCH will be accepted through Bitflyer wallets.
The Bitflyer platform was created in 2014 and offers a fairly standard toolset for retail traders and professional organizations. It is a fiat to Bitcoin exchange with Margin and Leveraged trading, as well as Bitcoin Futures.
They offer trading between Ethereum, Ethereum Classic, Lisk, Monacoin and Bitcoin Cash. They have the world’s largest Bitcoin trading by volume. However, the business shines in its push for market diversification.
Focused on Transparency
The CEO of Bitflyer has consistently sought to maintain legal, licensed relationships as a focus of their business model:
“When I set up Bitflyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of bitcoin and the virtual currency industry.”
Governments such as France, are affirming positive sentiment and hope for the development of domestic versions of businesses like Bitflyer.
Elsewhere, regulations are tightening their grip – Binance recently confirmed to relocate their headquarters to Malta, rather than pursuing proper licensing in Japan
Russia is pushing the boundaries with a new law to consider cryptocurrencies legal tender.
“Born in Tokyo, Raised in the Silicon Valley”
In November 2017, Bitflyer gained licensing through the state of New York to legalize their business to American Citizens, but not all States have permitted approval yet.
They have personified some of the Silicon Valley Sentiment since their onset. With the launch of their exchange, they also created a crowdfunding platform called Fundflyer.
Tensions as well as excitement will continue to grow internationally regarding cryptocurrencies and Blockchain Technology, as organizations like Bitflyer seek accommodation, with the intent of economic stimulus through the growing fintech industry.
The dealership is focused on pre-owned luxury cars, sports cars and supercars. They carry upwards of 300 vehicles.
Although the actual use cases of cryptocurrencies to purchase their vehicles may be very low, the idea builds momentum on their material use as currency, not just a speculative asset.