Rakuten Set To Launch Crypto Exchange in June


With vision “mass adoption” in mind, the interest shown by big companies and corporations in the Blockchain gives the impression that the technology would become the in-thing soon.

Rakuten, one of Japan’s biggest e-commerce platforms has revealed plans to launch its own cryptocurrency exchange. The company plans to trade cryptocurrencies from its Rakuten exchange platform.

The Japanese e-commerce giant initially acquired the Everybody’s Bitcoin, an exchange for around $265 million Yen. This was after the Japanese authorities business improvement order.

The challenge is to restructure the cryptocurrency exchange under its new ownership along with the vision of Rakuten.

According to the ecommerce company,

“We expect that the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future. In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function.”

Rakuten Native Crypto

Already, Rakuten runs super point loyalty programme which they announced to be incorporated with an “inbound” Blockchain technology in order to create a native digital currency, Rakuten Coin.

With this “hybrid” Blockchain-e-commerce innovation, customers will have access to more than 70 services within the Rakuten ecosystem. According to Rakuten CEO at Mobile World Congress:

“Basically, our concept is to recreate the network of retailers and merchants. We do not want to disconnect [them from their customers] but function as a catalyst. That is our philosophy, how to empower society not just provide more convenience.”

The ecommerce giants joins a growing list of companies that have seen the potentials of blockchain. Incidentally, most lay emphasis on the creation of the internal ecosystem with its own currency.

Author: Dare Shonubi

Dáre Shonubi is a certified cryptocurrency expert and Blockchain journalist with an extensive experience in blockchain project marketing, media engagement, community management and cryptocurrency market analysis and research. An avid blockchain enthusiast with a view to support the blockchain innovation to optimum adoption and immeasurable development. Dare holds a diploma in the study of blockchain and cryptocurrency.

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