One of the largest Japanese companies for the sale of used cars has announced a partnership with cryptocurrency exchange Bitflyer, to ensure the possibility of payments in bitcoins in their offices in the country. First, the option will be available at 25 locations, but in the future the company plans to accept bitcoin in 550 branches.
The company Idom Inc is engaged in the sale of used cars. Formerly known as Gulliver International Co. Ltd, it operates a network of dealerships that buy and sell used cars throughout Japan since 1994.
The company claims to have the largest share of the domestic used car market, ranking first in terms of sales and number of purchases. The company has subsidiaries in the USA and New Zealand. In addition, the group also owns a 67% stake in an Australian car dealer Buick Holdings Pty Ltd.
Idom announced last week that one of the networks called Liberala will begin accepting bitcoin on December 20. Network specializiruetsya on such cars as Bentley, BMW and Audi. Payments will be carried out with the support of Japan’s largest cryptocurrency exchange Bitflyer.
24 dealership Liberala will take payments in bitcoins up to 100 million yen (~$888 000) for every purchase. Branches network located in Hokkaido, Tohoku, Kanto, Chubu, Kansai, Chugoku, Shikoku and Kyushu.
And 550 branches
Idom also owns the brand Gulliver, which currently has about 550 shops across Japan. According to the website of the company, total annual sales volume Gulliver is 300,000 units, and the total purchasing volume is 3 million units. Idom announced:
«We will test accepting payments network Liberala, and then may start to take bitcoins and 550 centres Gulliver».
Earlier this month, another car group called L operaio began to accept bitcoin in his three offices in Tokyo. L operaio, founded in 1992, specializiruetsya on a luxury European import automobiles. The maximum amount that can be paid in bitcoin, is 2 million yen (~ 18,000 USD) per sale.