Kazuhiro Tokita, the representative director, board member and president at Japanese cryptocurrency exchange DeCurret, unveils a new cryptocurrency payment system during a business presentation in Tokyo on March 27.
The announcement was reported by Cointelegraph Japan on the same day. With the new system, the Suica payment card could be issued by the East Japan Railway Company (JR East), Japan’s biggest railway company, to be topped-up with cryptocurrency.
The report further points out that there are no concrete plans as of press time and that JR East is only considering the implementation. As per the data released by the company, nearly 70 million Suica cards were issued as of the end of March last year. The dedicated website states that Suica is a prepaid e-money card that enables users to pay both for some goods and services, as well as transport.
Decurret just recently earned approval from the Japanese Financial Services Agency (FSA) to operate since March 28. As per Cointelegraph Japan, the trading on the exchange will start on April 16th and will involve Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ripple (XRP).
Reportedly, Ethereum (ETH) support is scheduled for June or July, and both yen and Bitcoin will be supported as base pairs.
Image Source: DeCurret.com