The Open House Group Expands Crypto Payment Options to Include XRP, SOL, and DOGE
The Open House Group, a leading real estate firm listed on the Tokyo Stock Exchange, has recently announced the expansion of its crypto payment options. The company will now accept XRP, SOL, and DOGE, in addition to Bitcoin (BTC) and Ethereum (ETH), bringing the total number of supported digital currencies to five.
Japan’s Real Estate Sector Embraces Crypto Payments
As Japan’s fifth-largest real estate company by revenue, Open House’s decision to accept a wider range of cryptocurrencies reflects a growing trend in the country’s property sector towards crypto payments and adoption. Emi Yoshikawa, a former Ripple executive, shared the news on X, emphasizing the significance of this development.
Open House Group’s move to facilitate international property purchases in Japan through its “Open House Global” portal, coupled with the introduction of crypto payment information and multilingual support, demonstrates a commitment to serving a global clientele.
- This expansion of crypto payment options by Open House could pave the way for mainstream crypto transactions in high-value purchases.
- It sets a precedent for other businesses in Japan and globally to consider accepting cryptocurrencies as a viable payment option for significant transactions.
Japan’s Regulatory Environment and Crypto Adoption
Japan’s regulatory environment has been evolving to accommodate the adoption of cryptocurrencies. The country has implemented clearer guidelines for crypto businesses, with the Financial Services Agency proposing significant updates to the Payment Services Act. These updates introduce new regulations for stablecoins and cryptocurrencies.
Proposed Changes to the Payment Services Act
- The proposed changes aim to diversify stablecoin reserves, enhancing investor protection.
- The bill introduces a new category of intermediaries to streamline the process of crypto exchanges.
- Japan’s ruling Liberal Democratic Party is discussing a proposal to introduce a 20% tax rate for crypto investments.
With established companies like Open House embracing cryptocurrencies and government policies becoming more crypto-friendly, Japan’s property market and beyond could witness wider adoption and use cases for digital currencies.
