Rakuten, e-commerce giant and Japan’s Amazon, has started to accept account registrations for its new cryptocurrency exchange, Rakuten Wallet. New exchange officially released to the public by E-commerce mogul Rakuten.
One should have a Rakuten member ID to sign up. Alternatively, those who already have an account at Rakuten Bank can sign up in preparation for the launch of trading. There was no indication of when the firm will begin to accept applications from the public a large.
Late last month Rakuten received a license from the Japanese Financial Service Agency for its cryptocurrency exchange. This has entitled the company to become registered as a virtual currency exchange service provider under the country’s Payment Service Act, with the Kanto Local Financial Bureau.
Rakuten integrated its U.S. website with bitcoin payment processor Bitnet in 2015, which was when its e-commerce site began to accept bitcoin payments.
In an official announcement Rakuten said that along with rolling out an automatic support service using AI (artificial intelligence) technology to answer customer inquiries, it is also soon planning to launch a mobile app which will allow users to trade cryptocurrencies, as well as to make deposits and withdrawals.
Rakuten purchased the exchange ‘Everybody’s Bitcoin’ for $2.4 million last August, and renamed it Rakuten Wallet. The rebranding took place March 1, at which point the old service was shut down.
It was at the time of the purchase that the company stated:
“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”.