DMM.com, an online entertainment platform that has 19 million users will enable its users to make purchases on the website with bitcoin. The feature is already active to millions of Japanese after being initiated on March 1, 2016.
With 19 million users, DMM.com is among the top 25 websites in Japan and offers a varied marketplace that sells everything from online games, to smartphones, digital books to online English lessons and more. In a significant move that could plausibly help with wider bitcoin adoption in an already Bitcoin-friendly country, DMM.com, via local bitcoin exchange Coincheck has used the latter’s settlement service to enable the cryptocurrency as a payment method to its users.
DMM.com users can now purchase DMM points with bitcoins, before redeeming the points for all products and services listed on the website.
Choosing the cryptocurrency as the payment to redeem DMM points is basically as simple as it sounds, as shown here. Furthermore, users who own a bitcoin wallet with coincheck to charge DMM points instantly. Users with wallets elsewhere will be provided with QR codes to send bitcoins in order to purchase DMM points directly.
In an announcement via its blogblog, coincheck revealed that DMM.com is looking to expand its services to other countries beyond Japan. Bitcoin was a natural fit, besides enabling the cryptocurrency as a payment option for Japanese users, to embrace a more global audience. Coincheck also revealed that bitcoin transaction volume is increasing rapidly in Japan. The claim comes during a time when Japan is debating to curb its bitcoin tax while Japan’s cabinet passed a bill to officially recognize digital currencies as real money. The bill was passed earlier this month.
The move will see digital currencies recognized as asset-like-values that can be used as a mode of settlement, just as it can be transferred digitally. The set of bills will help banking groups expand their IT-centric businesses and will also recognize virtual currencies as having similar functions to fiat currency.
Images from coincheck and DMM.
Last modified: May 21, 2020 10:31 AM UTC