Rakuten May Help To Bring More Cryptocurrency Adoption With New Exchange

Rakuten is a Japanese e-commerce and Internet company based in the capital of Japan. The firm was founded in 1997 by Hiroshi Mikitani and is the largest e-commerce platform in the country of Japan. The e-commerce platform is also able to hold its own in the world as well, it is one of the largest e-commerce platforms in its revenues.

The company has branched out to the other divisions and has become a significant banking and credit card entity. The company operates in a similar fashion to Amazon and has been dubbed as the Japanese Amazon.

Rakuten has also invested in leading companies such as Lyft, Pinterest, Careem, in additions to partnerships with e-commerce giants such as Jd.com. Rakuten even owns companies such as E-bates.com, giving it more reach.

The company has now progressed to joining the cryptocurrency sector by launching its own cryptocurrency exchange.

The Rakuten Cryptocurrency Exchange

The corporate entity will start onboarding users onto their Rakuten Wallet, at the current moment registration is only open to those who are current customers of its Rakuten Bank.

The exchange should start running by the summer of 2019.

Rakuten, which has revenues in excess of $8.5 billion and commands the attention of a wide base of consumers may help to drive more interest to cryptocurrencies. The company has operations in more than 29 countries and provides several services to an increasing user-base.

Japan has had significant exposure to bitcoin since the deployment of early exchanges such as Mt. Gox, has a pro-bitcoin government, and is expected to be a key driver of innovation within the blockchain and cryptocurrency sector.

Rakuten may want to capitalize on this growing sector, thinking of the blockchain and cryptocurrencies as a value-add and one key segment in the future of banking.

By slowly integrating cryptocurrencies as part of their offerings in a regulated manner, Rakuten can glean data, learn about the use and consumer behaviors within this emerging sector.

Furthermore, Rakuten may also benefit from being an established entity with partnerships, investments and various ventures within the tech sector. The corporation can take its time, deploy the exchange, profit from regular trading by its current customer base and capitalize on bull runs in the future as well.

Other Japanese Corporations Move In

Rakuten isn’t the only exchange interested in providing and finding value within the blockchain and cryptocurrency sector.

Companies such as Yahoo! Japan are either investing in separate cryptocurrency exchanges as well.

– This article was originally posted at CryptoTraderNews

About CryptoCurrencyWire (“CCW”)

CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

To receive instant SMS alerts, text CRYPTO to 888-902-4192 (U.S. Mobile Phones Only)

CryptoCurrencyNewsWire is where News, content and information converge via Crypto.

For more information, please visit https://www.cryptocurrencywire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire (CCW) website applicable to all content provided by CCW, wherever published or re-published: http://CCW.fm/Disclaimer

CryptoCurrencyWire (CCW)
New York, New York
www.cryptocurrencywire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

This article contains Third-Party Content submitted by third parties, including articles submitted through the CCW Premium Partnership Program. All opinions, statements and representations expressed by such third parties are theirs alone and do not express or represent the views and opinions of CCW or its affiliates and owners. Content created by third parties is the sole responsibility of such third parties, and CCW does not endorse, guarantee or make representations concerning the accuracy and completeness of all third-party content. You acknowledge that by CCW providing you with this internet portal that makes accessible to you the ability to view third-party content through the CCW site, CCW does not undertake any obligation to you as a reader of such content or assume any liability relating to such third-party content. CCW expressly disclaims liability relating to such third-party content. CCW and its members, affiliates, successors, assigns, officers, directors, and partners assume no responsibility or liability that may arise from the third-party content, including, but not limited to, responsibility or liability for claims for defamation, libel, slander, infringement, invasion of privacy and publicity rights, fraud, or misrepresentation, or an private right of action under the federal securities laws of the United States or common law. Notwithstanding the foregoing, CCW reserves the right to remove third-party content at any time in its sole discretion.