Japanese crypto exchange bitFlyer and technology services provider Tpoint Japan have entered into a strategic partnership to introduce a program that will let users collect loyalty points and redeem them for Bitcoin (BTC).
According to a report by The Paypers, this partnership will let T-Card holders redeem 100 T-points for 85 yen in BTC. T-Card holders can also earn one T-point for every 500 yen in BTC spending.
A press release from bitFlyer stated that the company has a mission of “making the world simpler with blockchain,” and is determined to “continue to contribute to the further development of a sound virtual currency industry.”
Meanwhile, Tpoint Japan stated that its goal is to turn its loyalty points into “points for connecting people and society.”
Major Japanese department stores participating in the program include Bic Camera, Yamada Denki, H.I.S., and others.
Tpoint is a common point service used by over 69 million people in Japan, available at more than one million locations including convenience stores, supermarkets, drug stores, restaurants, apparel stores, electronics stores, mobile network providers, and electricity and gas utilities.
Aside from Tpoint Japan, another notable cooperation is between bitFlyer Blockchain — a blockchain subsidiary of bitFlyer Holdings — and Japanese trading house Sumitomo aimed at developing a blockchain-powered platform for accommodation leases using smart contracts.
bitFlyer has been proactively expanding its business, with the July 2019 launch of Bitcoin buying and selling services to customers in Europe.
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