Robocoin Bitcoin ATM lands in Japan

A Japanese import company, Raimu, located in Suzuka, has announced it has just received a Bitcoin ATM, with at least

A Japanese import company, Raimu, located in Suzuka, has announced it has just received a Bitcoin ATM, with at least a couple more apparently on the way from the Nevada based, Robocoin Technologies LLC.

Raimu, run by two brothers, Motonori Kan and Yoshinori Kan, has some big plans for Bitcoin in Japan, with the aim of becoming a pioneer for the Japanese Bitcoin industry, claiming,

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“As a trading company, we are also always searching interesting items to import to Japan … to be a part of one of the biggest inventions in history.”

Importing the ATM was a little tricky, since usually ATMs are operated by banks and hence registered with the Japanese FSA, but Bitcoin is different due to it being a digital currency, therefore outside of the FSA’s jurisdiction. So the Kans, after seeking advice from their lawyer, managed to obtain a license as a used-goods dealer to then import the Bitcoin ATM as a “vending machine”. I had to chuckle at that.

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Raimu wants to become the main distributor of Robocoin ATMs in Japan; the only issue is, they don’t have much of an idea of how the machines even work, with the 49 year old younger brother and CEO Motonori Kan explaining,

“We have never touched the unit, so we do not know all the details. Our working knowledge is only via literature from Robocoin and YouTube videos. When the unit arrives, we will study it thoroughly, and quickly!”

One has to admire the passion though, especially given their previous and more humble importing endeavours, such as camping gear and dog snacks.

The Bitcoin ATM isn’t yet in operation, the public will have to wait a while before using it, as Raimu seeks partners to help establish ATMs throughout the country, with Tokyo being the primary target.

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