Have a few million yens lying around? Then you can treat yourself to a luxury car, thanks to a new partnership between BitFlyer and L’Operaio, a Japanese car dealership that imports and sells premium vehicles.
The company has added Bitcoin as a payment option with technological support from the exchange, the largest in the country.
BitFlyer made things official (PDF file) on Tuesday, revealing that the initial phase of this partnership will see payments in the digital currency being made available at dealer locations in Nerima, Setagaya, and Ayoama in Tokyo
With plans to expand the option to all stores in the near future.
As for BitFlyer, this is definitely not its first rodeo.
It has already integrated its cryptocurrency wallet with major electronics retailers in Japan, including all Bic Camera stores and selected branches of Yamada Denki.
Department store operator Marui also rolled out a trial of Bitcoin payments in conjunction with the exchange at one of its locations in Shinjuku, Tokyo.
This is a notable development, because while the exchange has retail partnerships with several companies, there is a limited settlement cap for each purchase made in cryptocurrencies — ranging anywhere from $900 to $2,760.
But this new partnership allows customers to make purchases as high as 100 million yen, which translates to $1 million, all via their BitFlyer digital wallets.
Then again, none of this comes as a surprise, as Japan is head and shoulders above the rest of the world when it comes to the adoption, use and governance of cryptocurrencies. Thousands of stores already accept Bitcoin in the country, and more continue to hop on board.