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Japan's Leading Low-Cost Airline Details Plan to Accept Bitcoin


Japan's leading low-cost airline, Peach Aviation, has been working to implement a bitcoin payment system. Recently, there were reports that the company may be rethinking its bitcoin strategy following the recent hack of a major Japanese cryptocurrency exchange. Peach Aviation and its bitcoin exchange partner have clarified their position.

Also read: Japan's DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Peach's Plan to Accept Bitcoin

Peach Aviation has recently clarified its plan to accept bitcoin for airline tickets. This is in response to recent media reports that suggest that the company may be halting its plan to accept the digital currency following the hack of a major Japanese bitcoin exchange, Coincheck – where 58 billion yen (~USD$527 million) worth of NEM were stolen.

Japan's Leading Low Cost Airline Clarifies Plan to Accept Bitcoin

Operating more than 90 daily flights and servicing 12 domestic and 13 international routes, Peach Aviation claims to have more than 13,000 daily passengers.

The company first announced in May of last year that it would accept bitcoin through a partnership with Japanese cryptocurrency exchange, Bitpoint Japan. In addition, Peach plans to expand its bitcoin payment services "through collaborations with local administrative bodies and local companies." Peach and Bitpoint plan to jointly implement various initiatives such as installing bitcoin ATMs (BTMs) at airports as well as introducing bitcoin payments at souvenir shops, restaurants, and accommodation facilities.

Japan's Leading Low-Cost Airline Clarifies Plan to Accept Bitcoin

"Both companies plan to start the service from the autumn of 2017 and will gradually implement various measures in accordance with various laws and regulations," they announced in May. However, in December, Peach postponed the timeframe to "start [accepting bitcoin] within the fiscal year," which ends in March 2018, the Sankei reported.

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