• November 25, 2020

Rakuten, Japan’s E-commerce giant opens its crypto exchange

Rakuten, Japan’s E-commerce giant opens its crypto exchange

The well-known e-commerce rival of Amazon in Japan, Rakuten has come up with its own crypto exchange and the registrations for Rakuten Wallet is open now.

As stated on the official blog of the company, only the users who hold Rakuten Bank account or who already have a Rakuten member ID are allowed for signup in preparation for the exchange’s launch.  However, it’s not clear as to when the registrations will be open for general public.

Along with this, the firm is rolling out AI backed chatbot which aids in answering customer queries 24 X 7. Also, the announcement mentioned that there are plans in the works to release a smartphone app so users can trade crypto and make withdrawals and deposits.

For the record the Rakuten Wallet was previously known as Everybody’s Bitcoin, an exchange Rakuten acquired for $2.4 million last August. The rebranding was done very recently, in the month of March this year.

Its noteworthy to mention the lines by Rakuten during last year August,

The role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future

Further more they believed that,

In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function

The e-commerce site of the firm started accepting bitcoin payments in 2015 when it integrated its U.S. website with bitcoin payment processor Bitnet.

This might just be the beginning of wide acceptance of bitcoin in e-commerce sector. What do you think? Let us know your thoughts in the comments section below.

Finance

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