Japan’s Peach aviation accepts bitcoin fares

June 1st 2017

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Successful Japanese low-cost carrier, Peach Aviation, will be the first airline in the country to accept payment for fares in bitcoin. Kansai-based Peach has embraced bitcoin to exploit Japan’s fascination with the crypto currency. Read More » Acceptance of the virtual money for fare payments is aimed at Peach’s younger Chinese passengers, reported the Financial Times from Japan. Peach’s chief executive, Shinichi Inoue, said: “We want to encourage visitors from overseas and also the revitalization of Japan’s regions.”

The Japanese government has established a licensing system for the currency exchanges and fund transfer companies that accept bitcoin. The market driven decision takes Peach into a group of 5,000 businesses that are seeking the custom of high spending Chinese tourists. The big spenders pay with bitcoin via intermediary settlement systems, the newspaper said. Peach, which has focused its growth on North Asia, is 66% owned by ANA HOLDINGS, the parent company of All Nippon Airways.