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Taiwan Convenience Stores Embracing Bitcoin

Taiwan’s convenience stores are comparable to those in Japan in that they are truly “convenient,” in every sense of the word.

So the next time you’re grabbing some dinner to go, paying a bill, buying concert tickets, sending express mail, dropping off dry cleaning, or picking up a cold beer at 4 am on a Sunday, why not also get some Bitcoin to add to your portfolio of investments?

BitoEX, a local Taiwan Bitcoin exchange, has succeeded in pulling off something that other exchanges can only dream about. They managed to get convenience stores in Taiwan, such as FamilyMart (with its 5,000+ stores), to offer the ability to purchase Bitcoin.

FamilyMart_Bitcoin

This is incredible news for a country of 23.4 million people and the highest concentration of convenience stores anywhere on the planet.

Taiwan has been flying under the radar when it comes to Bitcoin, as there just hasn’t been anything in the news stream about the island nation and any crypto coin love… but… this changes everything. Taiwan has now jumped to front and center, and in doing so has put all those seemingly elusive Bitcoin ATMs to shame.

For an exchange, the biggest challenge in dealing with all these potential transactions is obviously liquidity. As such, BitoEX sought out the right partners for help.

The FamilyMart deal came as quite the surprise to Hong Kong-based KBBEX CEO Patrick Lam, but their common goal of supporting Bitcoin eventually drew them together (along with international OKCoin) to ensure that the deal found success.

Ideally, the next move would be for FamilyMart to allow purchases to be made with Bitcoin… but for now, let’s just be happy with this encouraging step in the right direction (and hope that things continue along on this path).

For more details, including a video of the Bitcoin-buying process at one of the convenience stores, head over to CoinDesk.