Online Game Site “Gesoten” Introduces Bitcoin Settlement

Improved User Convenience through Diverse Settlement Options

GMO Media, Inc. (CEO: Teruyuki Mori. Hereafter “GMO Media”) has added Bitcoin as one of the settlement modes available for the purchase of virtual currency (Game Currency) exclusively used in Gesoten, our online game site. bitFlyer, Inc. (CEO: Yuzo Kato. Hereafter “bitFlyer”) takes the role of the provider of Bitcoin payments.

gmo media

Background of the Introduction of Bitcoin in Gesoten

Bitcoin, one of the virtual currencies circulating online, can be directly transferred P2P (*1) without any intervention by banks and is widely popular in personal/corporate international remittances and settlements, for its transactions require less charges and procedures. Recently, the number of Bitcoin wallets has exceeded 12 million (*2) globally, and in Japan, more than 100,000 users daily trade a total of 500 million to 1 billion yen in Bitcoin (*3) .

GMO media was the first in Japan to introduce Bitcoin in December 2014 as a point conversion option in PointTown, our point site. As of February 2016, the total amount of point conversion to Bitcoin has grown three times larger than last year, demonstrating a radical surge in the users’ interest in Bitcoin.

Presently, Bitcoin and other virtual currencies are defined in Japan as Value Records (referring to electromagnetic records with certain values), which is neither a currency nor a thing (*4). However, their demand is expected to increase further as settlement means, following the cabinet approval of the revised Settlement Act on 4th March this year.

In view of these circumstances, GMO Media has affiliated with bitFlyer, with whom we collaborate also in PointTown, to add Bitcoin as a settlement mode.

(*1) Abbreviation for “peer to peer”. It refers to a network system that enables direct communications between two connected computers without client server intervention.
(*2) CoinDesk, State of Bitcoin and Blockchain 2016
(*3) Survey by bitFlyer. Febraury 2016
(*4) Liberal Democratic Party Special Mission Committee, Midterm Report on Bitcoin and Other Value Records, 19th June 2014

Handling of Bitcoin Settlement in Gesoten

In addition to the existing credit card settlement, carrier settlement and electric money, Gesoten users can opt for Bitcoin settlement for the purchase of Game Currency. Improved user convenience through extensive choice of settlement modes may further boost game user activities.

About Gesoten

Gesoten is a game platform affiliated with the membership platform covering PointTown, yaplog!, freeml, and other websites run by GMO Media, Inc. As an SNS providing a communication platform for game users, it currently offers games to more than 10 million users. [GMO Media, Inc.]

Name – GMO Media, Inc. (TSE Mothers Securities Code: 6180)
Address – Cerulean Tower, 26-1 Sakuragaokacho, Shibuya ku, Tokyo, Japan
Representative – Teruyuki Mori, CEO Business Operations ■ Internet media business ■ Support business for other media
Capital –  761,970,000 yen

[Press Contact]

Morishima, PR Team, GMO Media, Inc.
E-mail[email protected]

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.