Bitcoin Bond Debuted by Japan's Fisco
- Fisco issues $813,000 worth of notes to a group company
- The company expects Japan to revise law in favor of bitcoins
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Japan’s Fisco Ltd. is experimenting with selling bonds denominated in bitcoins, figuring that the digital currency will eventually become a legally recognized financial asset in Japan and help boost its business.
A unit of the Tokyo-based financial information provider issued three-year debt worth 200 bitcoins to another firm in the Fisco group on Aug. 10, in what likely is the first such deal in Japan, according to Masayuki Tashiro, the company’s chief product officer. One goal of the sale was to test the bonds’ potential to become a useful fundraising tool, he said. The notes issued were worth about $813,000 as of Wednesday.