Rakuten launches cryptocurrency exchange

Posted 19 August, 2019

The e-commerce giant Rakuten, known as the Japanese Amazon, launched the cryptocurrency trading service Rakuten Wallet on August 19At the first stage, users will be able to trade through a mobile application running Android. Rakuten Wallet customers will gain access to spot trading of digital assets in pairs of BTC-JPY, ETH-JPY, and BCH-JPY. The iOS app is scheduled to be released in early September.

In order to register with Rakuten Wallet, the user is required to authenticate with Rakuten and have an open account with Rakuten Bank. ПWhen replenishing deposits or withdrawing funds, only accounts opened with Rakuten Bank are available. This condition is due to the fact that identification will be performed when setting up an account transfer to Rakuten Bank. Bank customers will not have to submit a new identity document when opening a Rakuten Wallet account.

In the spring of 2019, one of the largest online retailers in the world, Rakuten added cryptocurrency support to its Rakuten Pay mobile app. The corporation accepts Bitcoin for payment through its US portal since March 2015.

Also, the cryptocurrency divisions of the Rakuten group of companies were announced in February 2019. Then it was decided to change the name of the Everybody Bitcoin exchange to Rakuten Wallet, as well as change the corporate logo of the exchange.  Rakuten Wallet is currently one of the few cryptocurrency exchanges licensed by the financial regulator of Japan.

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