The Open House Group, a prominent Tokyo granted real estate company, has extended its crypto payment options with XRP, SOL and Doge. This addition brings the total number of accepted digital currencies to the platform of the company to five, as a supplement to the previously supported Bitcoin (BTC) and Ethereum (ETH).
As the fourth largest real estate company in Japan through income, the decision of Open House marks an upward trend in crypto payments and adoption within the country’s ownership sector. EMI Yoshikawa, a former Ripple director, shared the news on Xemphasize the importance of this development:
According to a translated press release, Open House Group wants to facilitate international purchases in Japan via its “Open House Global” portal, which now offers crypto payment information and multilingual support to meet a global clientele.
This step of Open House could be a precedent for regular crypto transactions in high-quality purchases, which makes it possible to follow other companies in Japan and worldwide to follow. It further legitimizes cryptocurrencies as a feasible payment option for considerable transactions.
Japan is evolving to house crypto
The legal environment of Japan has evolved to cope with the adoption of crypto. The country has implemented clearer guidelines for crypto companies and the Japanese financial service agency recently proposed Significant updates On the Payment Services Act, the introduction of new regulations for stablecoins and cryptocurrencies.
The aim is to diversify Stablecoin reserves, so that trust companies can keep up to 50% of the reserves in the term deposits and government bonds while retaining a one-on-one support. This would improve the protection of investors by enabling supervisors to oblige the onshore guardianship on digital assets and stablecoins by exchanging exchanges, which focuses on the concern of earlier exchange.
The bill also introduces a new category of intermediaries that can act as brokers between customers and crypto exchanges without registering as exchanges themselves, which means that the process is streamlined while maintaining the legal supervision of assets and risk provisions.
At the same time, a proposal is discussed by the Japanese prevailing liberal Democratic Party (LDP) that would introduce a 20% tax rate for crypto investments, so that they are tailored to shares and other financial products.
As more established companies such as Open House Cryptocurrencies and Government Policy embrace, they continue to pursue a more crypto-friendly attitude, it could pave the way for wider adoption and use cases on the Japan real estate market and then.
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