As reported earlier, Rakuten, a Japanese e-commerce and internet company based in Tokyo which is often dubbed a rival of Amazon, has started its very own cryptocurrency exchange, Rakuten Wallet. Now as per a latest announcement from the firm, the global e-commerce website has started accepting account registrations for ‘Rakuten Wallet,’ although the invitation of joining the exchange is limited exclusively to customers with a bank account at Rakuten or a membership ID of the same.
The website has not yet given any concrete statement regarding when registrations to the exchange will be open for a broader audience.
Rakuten Wallet’s Tryst with the World of Cryptocurrencies
The e-commerce site had already involved itself in trade via cryptocurrency when it began accepting payments through Bitcoin after its integration with Bitnet, a US-based bitcoin payment processor, in 2015.
The ‘Rakuten Wallet’ is a successor to another exchange owned by the company by the name of ‘Everybody’s Bitcoin.’ The previous exchange portal was bought by Rakuten at a price of $2.4 million in August last year but was shut down on 1 March after the launch of the new service.
The registration of the current exchange is as a ‘Virtual Currency Exchange’ service provider under the Payment Service Act facilitated by the Kanto Local Financial Bureau.
Rakuten Wallet’s Innovative Features
The exchange also announced that it would offer services on a customized mobile app for transactions related to cryptocurrencies as well as automatic support service backed up by Artificial Intelligence for clearance of any customer queries.
The company mentioned the reason for establishing their very own crypto exchange, stating “In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function.” Rakuten, already being a global giant in trade and commerce, benefits doubly after initiating their own exchange platform since Japan offers one of the most crypto-friendly environments in the world.
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