The Open House Group, a prominent Tokyo Stock Exchange-listed real estate firm, has expanded its crypto payment options to include XRP, SOL, and DOGE. This addition brings the total number of accepted digital currencies on the company’s platform to five, complementing the previously supported Bitcoin (BTC) and Ethereum (ETH).

As Japan’s fifth-largest real estate company by revenue, Open House’s decision marks an upward trend in crypto payments and adoption within the country’s property sector. Emi Yoshikawa, a former Ripple executive, shared the news on X, highlighting the importance of this development:

According to a translated press release, Open House Group aims to facilitate international property purchases in Japan through its “Open House Global” portal, now offering crypto payment information and multilingual support to cater to a global clientele.

This move by Open House could set a precedent for mainstream crypto transactions in high-value purchases, potentially encouraging other businesses in Japan and globally to follow suit. It further legitimizes cryptocurrencies as a viable payment option for significant transactions.

Japan is evolving to accommodate crypto

Japan’s regulatory environment has been evolving to accommodate crypto adoption. The country has implemented clearer guidelines for crypto businesses, and Japan’s Financial Services Agency recently proposed significant updates to the Payment Services Act, introducing new regulations for stablecoins and cryptocurrencies.

The aim is to diversify stablecoin reserves, allowing trust companies to hold up to 50% of reserves in term deposits and government bonds while maintaining a one-to-one backing. This would enhance investor protection by enabling regulators to mandate onshore custody of spot digital assets and stablecoins by exchanges, addressing concerns raised by past exchange collapses.

The bill also introduces a new category of intermediaries that can act as brokers between clients and crypto exchanges without registering as exchanges themselves, streamlining the process while maintaining regulatory oversight on asset and risk disclosures.

At the same time, a proposal is being discussed by Japan’s ruling Liberal Democratic Party (LDP) that would introduce a 20% tax rate for crypto investments, aligning them with stocks and other financial products.

As more established companies like Open House embrace cryptocurrencies and government policies continue to pursue a more crypto-friendly stance, it could pave the way for wider adoption and use cases in Japan’s property market and beyond.

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