Japanese bitcoin exchange furthers its expansion into Greater China

Bitpoint Japan to launch new venture in Taiwan, following similar moves in mainland China, Hong Kong

Japanese bitcoin exchange furthers its expansion into Greater China

Japanese bitcoin exchange Bitpoint continues its expansion into the Greater China region, Bitcoin.com has recently reported. The company, which earlier this year made the headlines for partnering with a Japanese low-cost carrier Peach Aviation and promising to introduce bitcoin payments to more than 100,000 retail outlets across Japan, has already launched operations in mainland China and Hong Kong. Now Bitpoint is partnering with a “major commercial bank” to further its expansion into the region to Taiwan.

“We have received full support from Taiwan’s leading commercial bank, and we are pleased to inform you that we will establish a virtual currency exchange, Bitpoint Taiwan,” the exchange said in a statement published last Friday, as quoted by Bitcoin.com. The company added that Taiwan is expected to be “more active in digital currency trading going forward”.

Bitpoint launched its expansion into the region in February, when it entered mainland China by striking a partnership with Galaxy Dragonfly Investments, a Beijing-based mining company. Under the agreement, Galaxy Dragonfly Investments will provide the Japanese exchange with a stable supply of bitcoins.

Last month Bitpoint announced plans to launch a new exchange in Hong Kong through a joint venture with Top Wisdom Accounting and Consulting Ltd. The exchange, called Bitpoint Global, is expected to begin operations later this month.

Bitpoint also runs a number of ventures in its domestic market, which have experienced significant growth since the Japanese government approved bitcoin as a legal payment method. The company is working with retailers, as part of its efforts to promote the use of bitcoin in retail stores instead of as a speculative investment. It is also working on bitcoin and ethereum payment system, in partnership with Nippon Pay.

According to Google Finance data, the bitcoin price was little-changed at $2,342, as of 12:01 BST today.

0 Brokers added for comparison:
Clear all