Rakuten’s New Cryptocurrency Exchange Opens Its Doors to First Clients

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Photo: Rakuten Today / Twitter

Japanese e-commerce giant Rakuten is now one step closer to the opening of its own crypto exchange platform which is scheduled for June (just a few months left!). And already now the company invites its potential customers to pass through the registration process for its new Rakuten Wallet crypto trading service.

Rakuten Wallet: Registration Open

In its official announcement the company that is also known as the Amazon of Japan states:

“We are pleased to announce that we have started accepting applications for opening new accounts for the asset (virtual currency) trading service “Rakuten Wallet.”

Nevertheless, at the moment if you want to sign up for the new service, it is necessary to have an account at Rakuten Bank or to have a Rakuten member ID. And as for now, there is no precise information whether these restrictions will be lifted later and whether a wider public will have access to the exchange.

It has been also revealed that the exchange has introduced an automatic support service using AI technology that will be used to process inquiries received from customers.

Moreover, there are plans to launch a mobile app in the near future. The app is expected to provide users with an opportunity to sell and buy crypto assets, make deposits and withdraw funds.

As Coinspeaker has reported earlier, last month Rakuten got the registration and approval from Japan’s Financial Services Agency (JFSA) for its Rakuten Wallet exchange. The exchange has a registration with the Kanto Local Financial Bureau being classified as a virtual currency exchange service provider under the country’s current Payment Service Act.

Earlier, Rakuten Wallet used to be known under another name. It had been functioning under the name Everybody’s Bitcoin until it was acquired by Rakuten for $2.4 million last August.

Nevertheless, the older service was closed this year on March 1. At that time the rebranding of the platform took place.

Rakuten and Crypto

According to the announcement made by Rakuten in August, the growth of the role of cryptocurrency-based payments in offline retail, e-commerce, as well as in P2P payments is expected in the upcoming years.

Bearing this idea in mind the company took a decision to ensure smooth and reliable cryptocurrency payment methods for its customers by adding to the list of its services a cryptocurrency exchange function.

The launch of Rakuten’s cryptocurrency exchange may contribute to crypto adoption. It is expected that its consumers will have a possibility not only to trade crypto assets but to pay for their purchases on the e-commerce site using Rakuten Wallet as well.

As Rakuten has such a pleasant feature as cash back it may provide good incentives to clients who pay using their Rakuten Wallet accounts.

Let us also remind you that Rakuten started to accept payments in Bitcoin on its e-commerce platform in 2015 after integrating its website with payment processor Bitnet.

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