Thursday, June 20, 2019

Japan’s Amazon Opens Registration for its Cryptocurrency Wallet Service

Rakuten Wallet Co., Ltd, a cryptocurrency company and subsidiary of Rakuten Group, Japan’s e-commerce conglomerate which can be likened to Amazon, has opened the registration for those who will like to use its new cryptocurrency wallet service. In a press release on April 15, Rakuten Wallet Co. announced that the platform upon its launch can be used to deposit and trade cryptocurrencies.

Accepting Applications from Customers Who Wish to Use its Wallet Service

Per the press release, Rakuten Wallet Co. as of April 15 has started accepting applications from its customers who will like to operate its cryptocurrency wallet. Accordingly, those who already have a bank account with Rakuten Group can fill an online application which will enable them to open a cryptocurrency trading account on the wallet.

On top of that, an application for smartphones will be launched in order to enable customers to access their cryptocurrency from a mobile device and irrespective of their location. Customers can also deposit and withdraw these virtual assets directly from their trading account.

The cryptocurrency company also said:

 Rakuten Wallet…will continue to further enhance its services so that customers can use it safely and comfortably.

Rakuten Wallet Co., Ltd Rebrands from Everybody’s Bitcoin Co., Ltd

Reportedly, Rakuten Wallet Co., Ltd was first known as Everybody’s Bitcoin Co., Ltd. before its name was changed on March 1, 2019. While the latter’s services began in March 2017, it was discontinued before it was purchased by Rakuten Group.

Rakuten Group, on the other hand, is usually compared with large online shopping portals like Amazon. The company is focused on online shopping and distribution, data analytics and mobile communications, banking and payments, sport, and media. In 2018, it recorded a revenue of 1,101.48 billion Yen.

Rakuten Group Acquires Companies in the UK, France, and Russia

Asides from acquiring Everybody’s Bitcoin, Rakuten Group also acquired PriceMinister in France, in the UK, and in Russia. Likewise, it signed a four-year sponsorship deal with Barcelona F.C, a Spanish football. The amount that was involved is about £188 million.

News of this nature is like music in the ears of cryptocurrency enthusiasts because it can foster the adoption of Bitcoin and altcoins. A similar event was reported on April 16 by BTCNN that Corporate Traveller, the largest travel management company in the UK is now accepting Bitcoin as payments for business travel bookings. According to the company, accepting Bitcoin is due to the high demand from its customers.

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