Roger Ver Confirms Alliance Cargo Direct of Japan’s ANA Group to Accept Bitcoin Cash (BCH)
BCH may have fallen away from being a global crypto leader but adoption continues. Recently, BCH sealed a major deal with Allianz Cargo Direct, a subsidiary of the ANA Group of Japan.
Roger Ver confirmed that the deal had gone through in a video, which he posted on the YouTube Channel for Bitcoin.com. Ver announced that he held a meeting with Allianz Cargo Direct where the talked about a partnership.
What Actually Happened
Despite describing the deal as exciting, he said that he could not divulge of the partnership because of insider trading laws in Japan. He said that both the ANA Group and he decided that they would announce they were working together. However, they could not reveal any details due to insider trading laws.
He mentioned that various other publicly traded firms were in the loop to use BCH. Thus, it could be the reason why insider-trading laws prevented any more details from being released to the public.
Roger Ver also revealed that BCH was the only crypto that was being used in that manner. Thus, no other crypto was being considered for this project. He made it clear that it was not BCH and other crypto coins. It was only BCH.
Ver Was Not Happy
Ver was disappointed that he could not reveal any details of the development due to insider trading laws in Japan. The nation has been working to improve its insider trading laws since 2015. The Tokyo Stock Exchange and Financial Service Agency issued a governance code for all companies that are publicly traded. All companies in Japan have to appoint two independent directors or more. Within just two years about 90 percent of all companies on the TSE had adhered to the directive.
BCH has already been adopted by Yukizaki Luxury Watch store in Japan. The store now accepts BCH payments. The watch store was already accepting BTC before it decided to add BCH. It uses Bitflyer to facilitate all transactions and it hopes to add other cryptos in the future.
Ver, high on optimism said that BCH could soon be used in all watch stores in Japan, edging out the use of BTC. He said that all stores already accepting crypto would soon start to accept BCH in Japan.
BCH Bear Run
Despite the bullish run of BCH, prices remain bearish. In the past few days, its price has fallen significantly. Recently, it fell below its support level, which saw the market cap drop below $2 billion. It even lost the fourth position by market cap.
Between January 28 and January 29, the coin lost about 8 percent of its market cap. This led to the EOS taking over and pushing it out of the top five coins. USDT has remained firm while BCH and EOS have fallen in market cap. Thus, USDT was able to take over the fourth position. BCH currently has a market cap of about $1.98 billion and it is trading at about $112.