Rakuten Converts Loyalty Points to Cryptocurrencies

Asia Blockchain Review
January 2, 2020

Rakuten Group, a Japanese e-commerce and electronics giant, now allows its customers to convert their earned loyalty points to cryptocurrencies including Bitcoin, Ether, and Bitcoin Cash. Using the company’s crypto exchange, Rakuten Wallet, the service sets one “Rakuten Super Point” to be equivalent to one yen when converted to crypto assets.

Reducing Barriers of Entry to Crypto Trading

The recent press release published by Rakuten Group said the service allows customers to convert “Rakuten Super Points from Rakuten Group’s loyalty points program to crypto assets.”

“Through the launch of the new service, Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience,” the company explains.

Earlier, Rakuten Group launched its own cryptocurrency exchange Rakuten Wallet, which allows users to start spot trading in the three cryptocurrencies via a mobile app.

Bitcoin and Cryptocurrencies Here to Stay

Changpeng “CZ” Zhao, the founder and CEO of crypto exchange Binance, has provided a positive outlook on the growth of Bitcoin, stating:

 “Bitcoin is still a small market cap instrument so there will be high volatility in the short term. However, if you look at the fundamental technology, the longer-term view, about a 5-year or 10-year horizon, we’re very confident that bitcoin and cryptocurrencies are here to stay.”

As for blockchain, Zhao said he thinks the technology will have a greater impact than the internet and it will expand, leading to the growth of crypto assets and their prices.

Source: www.newsbtc.com

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