The Coincheck exchange is well-respected in its home country of Japan. Not only does the platform act as a convenient gateway between fiat and cryptocurrencies, but they also continue to expand their overall reach. A new partnership with energy company E-Net will allow for paying electric bills with Bitcoin. A great milestone for the world’s leading cryptocurrency.
One of the most often heard remarks is how consumers cannot spend Bitcoin on everyday needs. Nor can they pay most of their bills with cryptocurrency directly, except in a few rare cases. Slowly but surely, that situation is coming to change. Over in Japan, energy provider, E-Net has decided to accept Bitcoin payments for electricity bills.
E-Net Lets Users Pay Electricity Bills With Bitcoin
To do so, the company has partnered with Coincheck, which quickly became the largest Bitcoin exchange in Japan. Ever since the Mt. Gox debacle, Bitcoin had not been a top priority for most companies in the region. But thanks to the hard work and dedication by the Coincheck team, things are slowly turning around.
E-Net becomes the first energy company in Japan to support payment of bills with Bitcoin. Coincheck is also the first Japanese exchange to allow for such a feature. This partnership between both companies goes to show the future of Bitcoin in Japan is looking brighter than ever. Although this may only seem like a small step, many people deemed it impossible just a few years ago.
To put this into perspective, Coincheck will launch Coincheck Denki. This “trading vehicle” will allow Bitcoin users to pay their E-Net bills with cryptocurrency. Two different pricing plans will be created, for both light and heavy users. The total value of the user’s bill will not change because of this, though, as the new offering will only facilitate the Bitcoin payment itself.
It is also important to note Coincheck Denki will be available to a few service areas during the initial stage. Kanto, Kansai, and Chubu will be eligible for this Bitcoin option from day one, with additional regions to be added over time.Marubeni Power Retail Corporation, which supplies Coincheck Denki to customers, operates seventeen different power plants across Japan. This allows for a lot of future growth as far as Bitcoin payments are concerned.
This partnership between Coincheck and E-Net parent company Mitsuwa Industry Co. LTD will be a long-term one. Paying electricity bills with Bitcoin is the first step. Discussions are taking place to offer similar features for gas, water, and mobile bills shortly. An exciting future lies ahead for Bitcoin in Japan; that much is certain.
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