Rakuten, known as the Amazon of Japan is likely to introduce Bitcoin payment soon. This is contained in a recent report by the eCommerce plaatform as the firm is set to consolidate its use of Cryptocurrency.
Rakuten To Venture Into Cryptocurrency Use
Rakuten, which is the largest eCommerce store in Japan is likely to introduce Bitcoin as a means of payment to its store. This is likely to be introduced after April 2019. This should be a consolidation of the interaction of the firm with cryptocurrency which started last year.
Rakuten famed as the Amazon of Japan started its foray into cryptocurrency world last year after its acquisition of Everybody’s Bitcoin exchange in September 2018.
The likely plan to start offering Bitcoin payment on its platform will be a feature of the corporate restructuring that the firm is presently undergoing. The corporate restructuring will see various businesses and subsidiaries of the firm consolidated into four major businesses. The four major businesses are “internet service”, “communication”, “fintec” and “settlements” and the structuring will be completed by April 2019.
The document released by the firm further revealed that Everybody’s Bitcoin would become a part of the settlement business of the firm instead of fintech. This indicates that Everybody’s Bitcoin will serve as an arm handling Bitcoin payment or cryptocurrency payment for the firm.
Earlier, while the cryptocurrency exchange, Everybody’s Bitcoin was purchased, Rakuten indicated its public support for cryptocurrency by stating that the role of cryptocurrency based payments in eCommerce, offline retail, and in P2P payment will grow in the future. Maybe the time for the firm to contribute to the growth is now, through offering crypto payment option on its eCommerce store.
Cryptocurrency Payment Option On The Japanese Amazon Platform
Though the crypto market is experiencing a bearish trend at the moment offering of crypto payment option on one of the largest eCommerce site in the world will boost the possibility of a change of trend. Also, the fulfilment of this in the crypto market remains a big wish to most crypto enthusiasts around the world, as the introduction of it on Amazon remains something everyone looks towards as well.
Rakuten is a Japanese electronic commerce and internet company that is based in Tokyo. The firm was established in 1997 by Hiroshi Mikitani. The eCommerce platform is the largest in Japan and also one of the largest in the world by sales. Its services reach over 1 billion people in the world in about 29 countries of the world.