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Japanese e-commerce giant Rakuten may soon accept crypto

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Japanese “Amazon” Rakuten May Soon Accept Cryptocurrency Crypto Heroes

A significant update to the Rakuten Pay mobile app, indicating likely support for crypto payments, was announced by the Japanese e-commerce giant Rakuten on March 18. It is the app’s structure that hints at this new development on the crypto scene.

New app version will feature all payment solutions

According to Rakuten’s presentation material for the fourth quarter and the full year of 2018, the new version of Rakuten Pay mobile app will support all payment solutions embedded into one platform.

Last month, Rakuten revised its corporate structure, leading to the establishment of a payment subsidiary, Rakuten Payment, which contains the company’s cryptocurrency exchange, “Everybody’s Bitcoin”, and its prepaid card service, Rakuten Edy.

Rakuten revealed that Edy and QR code payments would be supported in the updated app. Though the app update does not explicitly indicate support for crypto, Rakuten’s specification that all payment solutions will be supported on the platform implies that crypto payment could be integrated as a part of Rakuten Payment.

Rakuten already offering crypto services

Rakuten is already offering cryptocurrency services. The company acquired Japanese crypto exchange Everybody’s Bitcoin in August last year, in a deal worth 2.4 million USD. Back then, the company revealed its optimism about the future of cryptocurrency-based payments in e-commerce, offline retail, and P2P transactions.

The e-commerce platform also accepts Bitcoin (BTC) as a means of payment. In March 2015, Rakuten announced the acceptance of BTC as a payment option on its American portal, Rakuten.com.


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