Japan's Peach Aviation accepts Bitcoin payments, Bitcoin will take you to 22 Asian cities

Bitcoin has exploded in popularity and transaction volume in Japan, as the government officially defined the digital currency as a legal payment method in April this year. Now, Peach Aviation Ltd., Japan's largest low-cost airline provider, has announced that it will become the first airline in Japan to accept Bitcoin for ticket purchases.

Peach Aviation accepts Bitcoin payments

Located in Osaka, Japan, Peach Aviation has been known for providing cheap travel tickets since 2011. The company said that they will accept Bitcoin for booking flights and purchasing services by the end of this year. Peach Aviation said that changes in digital currency legislation have supported the development of the business sector. They plan to recommend Bitcoin payments to other partner companies and local governments in the future.

Shinichi Inoue, Founder and CEO of Peach Aviation, said:

We hope to attract more overseas tourists and revitalize the development of Japan. This is the first step for (Bitcoin) to truly cooperate with Japan, and we plan to establish connections with more companies and service providers.

Bitcoin mania in Japan

In addition to Peach Aviation, other Japanese companies that accept Bitcoin payments include Bic Camera. In addition, the current growth of Bitcoin transaction volume and price in Japan is unstoppable.

Charles Hayter of Cryptocompare, a Bitcoin data and analysis website, analyzed the current Japanese market: "When the Bitcoin price in the US dollar market is $2,100, the price in the Japanese market has reached $2,500." In the past 32 hours, the decentralized currency has seen a premium of up to 19% , and Hayter said this is because "Bitcoin mania has been generated."

As the country with the largest Bitcoin trading volume, Japan's trading share reached 42%到50% , with an average daily trading volume of 13.2万个比特币(US$300 million). Hayter said of the Japanese trading environment:

The Japanese people have been deeply trapped in the bug of Bitcoin, and its transaction inefficiency has been exposed. Irrational prosperity has emerged, and Japanese people continue to enter the Bitcoin market, driving up the international currency price.

Use Bitcoin to fly to 22 Asian cities

Peach Aviation Japan will join other international airlines that accept Bitcoin payments, such as Latvian Airlines, Air Baltic and LOT Polish Airlines. In addition, Japanese Bitcoin companies such as Coincheck and Bitflyer also plan to establish cooperation with more merchants this summer. As the Bitcoin craze in Japan spreads, Japanese citizens and foreign tourists can reach more than 22 destinations in Asia using Bitcoin payments.