Japan’s Rakuten Launches Crypto Exchange

Asia Blockchain Review
April 16, 2019

Rakuten, Japan’s largest e-commerce company and one of the largest digital marketplaces in the world, recently announced that it has finalized the registration of its newly rebranded cryptocurrency exchange Rakuten Wallet.

In August last year, Rakuten acquired the exchange, then known as Everybody’s Bitcoin, for 265 million yen (US$2.4 million at the time). The exchange is intended to enhance the services provided by the e-commerce firm’s fintech projects. Last month, it was rebranded as Rakuten Wallet and is slated to open for user registration this month.

A press release from the company reads,

Rakuten Wallet will contribute to the sound growth of the market as a virtual currency exchange company and will further enhance security and provide enhanced services.

For the past several years, Rakuten has been exploring business opportunities that could be enabled by blockchain. In 2016, it launched a blockchain research outfit in the UK aimed at developing platforms for payment systems. Moreover, a loyalty program powered by blockchain technology called Rakuten Coin was introduced last year.

The newest crypto exchange, Rakuten Wallet, was registered with the Kanto Local Finance Bureau under the Ministry of Finance, which will allow the company to legally operate as a cryptocurrency exchange service provider under the Japanese Payment Services Act.

The company said that the exchange will be headquartered in Setagaya-ku, Tokyo and helmed by Tatsuya Yamada as President.

Many tech firms in Japan have filed for licenses to operate crypto exchanges. Japan’s top regulatory body, the Financial Services Agency, recently issued licenses to DeCurret and Coincheck.

Source: ambcrypto.com

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:


    Related Article
    AP and Everipedia Team Up to Publish US Election Race Calls on the Blockchain
    The Associated Press (AP), the world's most trusted news agency, will distribute race calls to Everi...

    October 20, 2020

    Breitling To Offer Digital Passport Based On Blockchain
    From October 13, 2020, all new Breitling watches will be delivered with a blockchain-based digital p...

    October 20, 2020

    An Overview of the State of Blockchain in Malaysia & Singapore
    This blog will take a deeper look at the past, present, and future prospects on blockchain technolog...

    October 19, 2020

    American PowerNet Eyes Rollout Of Energy Trading Technology In North America
    American PowerNet (APN) eyes rollout of energy trading technology in the North American market follo...

    October 18, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us