Japanese Airlines to Become First to Accept Bitcoins

Peach Aviation a Japanese air carrier service Peach will be accepting bitcoins for flights and services at some point towards the end of 2017.

Headquartered in Osaka Japan, Peach offers low-cost air travel since 2011. The airline said the recent law change regarding the digital currency had bolstered the business move. According to reports Peach also plans to introduce bitcoin to other partner companies and local governments.

“We want to encourage visitors from overseas, and the revitalization of Japan’s regions,” Shinichi Inoue, the founder and CEO of Peach explained. “This is a real first step in partnerships for Japan, and we are aiming for more company and service tie-ups.”

The news of Peach Aviation accepting bitcoin follows other merchants in the region accepting bitcoin like the company Bic Camera. Furthermore, the announcement comes at a time where Japanese bitcoin trade volumes and price spreads have been through the roof.

According to Charles Hayter of the bitcoin data and analysis website Cryptocompare at the moment in Japan, “USD-BTC markets are trading at $2100 whilst the JPY-BTC pair is trading at the equivalent of $2500.” Over the course of the past 32 hours, the decentralized currency has been trading at a 19 percent premium, and Hayter says it is due to “Bitcoin fever taking hold.”