Japanese E-commerce Rakuten Accepts Crypto

Last Modified:6 Apr 2021 15:38:54
Japanese E-commerce Rakuten Accepts Crypto

Rakuten, a Japanese e-commerce giant, announced that it is going to offer cryptocurrency buying and selling services via its new service called Rakuten Wallet.

Currently, this service is not available to the public, and only those customers who use Rakuten banking services or have Rakuten ID can register to use this service.

Rakuten crypto wallet will be available to the public in the month of June, after receiving required permits in the country of Japan.

Rakuten was founded in 1997 in Japan. This Japanese company is active in the field of e-commerce and among its prominent services are Rakuten Banks and Rakuten online stores.

The publication of this news was met with different reaction from all across the world. Changpeng Zhao, Binance chief executive officer, the largest crypto exchange in the world based on trade volume, said in reaction to this news in a Twitter post that this service will ultimately be available to everyone.

By buying Everybody’s Bitcoin in last August for $2.4 million, Rakuten rebuilt it and renamed it to Rakuten Wallet. Other than the possibility of buying and selling cryptocurrency with this new service of Rakuten, the users of this wallet will be able to shop from Rakuten online stores.

According to this company’s authorities, smart chat with artificial intelligence will provide 24-hour customer support.

Rakuten implemented Bitcoin payment in its online stores in 2015. Experts expect that the entrance of Rakuten to the crypto and Blockchain industry will lead to its improvement and will even be a winning card in competition with Amazon.

Some experts believe that the acceptance of cryptocurrency in Rakuten online store can persuade Amazon to enter this field.

With the growth of various cryptocurrencies in recent years, Amazon has been indifferent regarding this issue even though by accepting cryptocurrencies such as Bitcoin as a payment method it will not only help the Bitcoin market but also persuade users in this field to shop from its website.

Japanese companies look at cryptocurrency as an opportunity, for example, Yahoo! Japan recently bought 40 percent shares in the Tao Tao exchange center. In this current month, the value of Bitcoin has been on the rise, such that each Bitcoin is currently being sold and bought at around $5300.