Bitcoin Cash might have slipped away on the global coin ladder, but adoption remains firmly in check as the Bitcoin hardfork has now sealed-a-deal with Alliance Cargo Direct, which is a part of Japan’s ANA Group.
Roger Ver confirmed the partnership in the latest video posted on the Bitcoin.com YouTube channel featuring Gabriel Cardano and Corbin Fraser. The BCH proponent and CEO of Bitcoin.com announced that he recently concluded a “meeting” with the Allianz Cargo Direct where the conversation was centered around furthering the BCH roadmap.
Despite referring to the latest details as “exciting,” Ver mentioned that he cannot divulge the partnership information due to “insider trading laws.”
“We all agreed that we should announce all the stuff that we are doing with ANA Group right now, today. The downside is they say we can’t. Because, there’s this thing called the insider trading laws.”
Ver added that several publicly traded companies are also in the loop to integrate Bitcoin Cash, and this could also be a reason for the insider trading obstacle that is preventing them from taking further their partnership announcement.
The BCH proponent also highlighted that Bitcoin Cash is the only cryptocurrency targeted in this manner, with no other cryptocurrency facing this situation.
He further added:
“It is not Bitcoin Cash and a bunch of other cryptocurrencies. It’s Bitcoin Cash. Period.”
Ver was noticeably displeased at this development and his being forced to withhold the announcement due to the country’s insider trading laws.
Japan has been ramping up its insider trading laws since 2015, with the country’s Financial Services Agency and the Tokyo Stock Exchange (TSE) issuing a corporate governance code instructing publicly traded companies to appoint at least two independent directors. Within a period of two years, 90 percent of all companies listed on the TSE had adhered to the same.
To add onto the adoption news, Bitcoin Cash has also integrated with the Yukizaki Luxury Watch Store, with the store now accepting payments in Bitcoin Cash. The aforementioned watch store already accepts Bitcoins [BTC] using Bitflyer and is now looking to add yet another cryptocurrency to its ranks.
Ver, riding high on optimism, said that Bitcoin Cash can “flip all of the (watch) chain-stores” in Japan from Bitcoin to Bitcoin Cash.
“They’ll all start accepting Bitcoin Cash in Japan.”
As adoption seems to be riding a bullish wave, BCH is severely bearish on the global market charts. Bitcoin Cash has declined significantly over the past few days, with the coin slipping below its major support level, seeing its market cap fall below the $2 billion mark and even losing its fourth spot on the global coin ladder.
Bitcoin Cash fell by well over 8 percent on January 28 and January 29, allowing EOS to overtake the coin and push it out of the top-5. Tether [USDT], the top stablecoin has stayed firm while EOS and BCH fell, allowing the stablecoin to take the fourth spot. At press time, Bitcoin Cash is trading at $112.8 with the market cap standing at $1.98 billion.
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