Tokyo - based bitcoin exchange bitFlyer is partnering with Mitsui Marine Insurance to ensure merchants receive compensation for failed customer payments involving the virtual currency . By protecting against losses caused by system problems and other issues , bitFlyer intends to accelerate merchants ' adoption of it as a payment method . The insurance product will be the first of its kind in Japan , with Coincheck , another Tokyo - based virtual currency exchange , soon to offer a similar insurance product in partnership with Tokio Marine & Nichido Marine Insurance .
Tokyo-based bitcoin exchange bitFlyer is partnering with Mitsui Sumitomo Insurance to ensure merchants receive compensation for failed customer payments involving the virtual currency. By protecting against losses caused by system problems and other issues, bitFlyer intends to accelerate merchants' adoption of bitcoin as a payment method. The insurance package will be the first of its kind in Japan, with Coincheck, another Tokyo-based virtual currency exchange, soon to offer a similar insurance product in partnership with Tokio Marine & Nichido Fire Insurance.