The offering from the Tokyo cryptocurrency exchange and the MS&AD Insurance Holdings Group unit will cover damages if a customer payment does not go through correctly due to system problems or other issues. 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 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 .