Rakuten, the Japanese e-commerce giant, will launch its cryptocurrency exchange!
Rakuten, a Japanese giant in the e-commerce sector, has announced that it has completed the registration of its cryptocurrency exchange Rakuten Wallet, about to be launched.
This was confirmed by the company in a press release issued on Monday, March 25, 2019.
“We are pleased to announce that our registration at Kanto’s finance office has been finalized as a” virtual exchange company “based on the law.”
According to the press release, Rakuten Wallet started its cryptocurrency swap service on March 30, 2017 and submitted a registration application form to Kanto’s finance office on September 7, 2017, in accordance with the Funds liquidation legislation.
Last August, Rakuten acquired the crypto exchange Everybody’s Bitcoin Co. Ltd. for an amount of 265 million Yen, which was equivalent to 2.4 million US Dollars at that time.
However, earlier this month, it changed the name of its acquisition to Rakuten Wallet Co. Ltd., which began a consolidation period during which changes were made to its structure.
At present, the company’s executives have confirmed that it will cease to operate in its current form at the end of March 2019.
“Rakuten Wallet will contribute to the strong growth of the market as a virtual money exchange company, further improve security and offer enhanced services so that more customers can use it safely and with confidence.”
Everybody’s Bitcoin received an order for improvement from Japanese financial regulators in April of last year.
This follows investigations that were conducted after the attack of half a million dollars on the coincheck Japanese cryptocurrency exchange platform three months ago.
As a result, the company has restructured its management system, including the formulation of a business improvement plan and the strengthening of its corporate governance and internal control systems.
Rakuten Wallet can now contribute to the growth of the cryptocurrency trading market.
It will improve security and provide better services to optimize the customer experience.
Rakuten is a bit like a Japanese Amazon and could help democratize cryptocurrencies and Bitcoin among the general public.
