Last week, BTCChina revealed JustPay, their rebrand of the Picasso web wallet which was originally released earlier this year. By linking directly with BTCChina’s voluminous exchange, JustPay becomes BTCChina’s merchant solution for Chinese merchants. Using JustPay, “merchants are guaranteed to receive the full price of the good or service purchased, in fiat (CNY, HKD, USD).” 

Currently, BTCChina has signed up four merchants through JustPay in “just” a week. Chinese companies ShenZhouFu , Aicaike, BTCKan , and jgb are among the first to accept Bitcoin with BTC China. In 2013, before the People’s Bank of China (PBOC) started taking veiled and unveiled actions to limit Chinese Bitcoin companies’ access to traditional Chinese payment processors, some large Chinese websites started accepting Bitcoin. However, the largest names stopped accepting Bitcoin in light of the PBOC Bitcoin guidance.

JustPay Will Lead Chinese Merchant Adoption of Bitcoin

Now that China’s Bitcoin economy has somewhat stabilized, with many Chinese Bitcoin exchanges still at the forefront of the industry, non-Bitcoin companies seem more willing to try accepting Bitcoin again. Across the world, the ignorance and regulatory capture that has kept Bitcoin adoption low is slowly being eroded away by the curiosity and growing resentment building up to break out of the legacy financial system. JustPay is leading the charge in China the way that Coinbase and BitPay have led the charge in America and Europe. Eventually, every country and every region in the world will have its corporate champions that are responsible for the most visible adoption.

What do you think? Comment below!

Images from BTCChina and Shutterstock.

btcchina

About the author

Caleb Chen

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.

[email protected] Twitter