Rakuten to Launch Crypto Exchange in April

Japanese e-commerce giant Rakuten is set to launch its digital asset exchange after completing registration with the country’s financial regulator. According to the press release published on March 26th, the crypto exchange Raketen Wallet will go live next month.

“Rakuten Wallet…which operates a virtual currency exchange service, announced that registration with the Kanto Local Finance Bureau has been completed as a “virtual currency exchange service provider” based on the Payment Services Act,” the announcement noted.

Last August, the Japanese giant acquired the cryptocurrency exchange formerly known as Everyday’s Bitcoin for 265 million yen (around $2.4 million). Earlier this year, the company made some major changes in its structure and formed a payment subsidiary under which it listed its crypto exchange.

“Rakuten Wallet will contribute to the sound growth of the market as a virtual currency exchange company, and will further enhance security and provide enhanced services so that more customers can use it safely and with confidence,” the press release added.

Big Techs Betting on Crypto

Meanwhile, another cryptocurrency exchange in Japan – Taotao – backed by a subsidiary of Yahoo Japan is also scheduled to start crypto trading services in May.

After the Coincheck hack last year, Japanese market regulator started to crack down on the operating crypto exchanges within its jurisdiction for operational and technological lapses. Everyday’s Bitcoin was one of the crypto exchanges which received an order of improvement, last April, from the Financial Services Agency (FSA).

Slowly Moving Towards Crypto

Rakuten Wallet is not the first step of the Japanese giant towards crypto and blockchain industry as, in 2016, the company established “a dedicated research and development organization” for blockchain called Rakuten Blockchain Lab.

The views and opinions expressed in this article Rakuten to Launch Crypto Exchange in April do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research. In rounding off this piece Rakuten to Launch Crypto Exchange in April, here’re the Top prominent words: Crypto Exchange. Crypto Exchange In April. Cryptocurrency Exchange. Currency Exchange. Currency Exchange Service. Everyday’S Bitcoin. Exchange In April. Exchange Service. Launch Crypto Exchange. Launch Crypto Exchange In April. Rakuten To Launch. Rakuten To Launch Crypto. Rakuten To Launch Crypto Exchange. Virtual Currency. Virtual Currency Exchange. Virtual Currency Exchange Service.

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