Japan's answer to Amazon may start accepting cryptocurrency soon

18 Feb, 2019 | Updated: 18 Feb, 2019
by Will Heasman
News
Japan's answer to Amazon may start accepting cryptocurrency soon

Rakuten, a Japanese e-commerce company, cited as Japan’s answer to Amazon may soon start to accept cryptocurrency through its mobile pay app…

According to its annual earnings release for Q4 of 2018, the company is working on an upgrade to their mobile payment platform, Ratuken Pay, set for release in March.

This upgrade is thought to include support for cryptocurrency payments, with the firm describing one major update to the payment app as “all payment solutions embedded into one platform,” including QR code payments, and a pre-paid card payment option.

 

Conjecture is rife around this particular turn of phrase due to the recent re-arrangement of Ratukens cooperate structure. The company’s recent $2.4 million acquisition of the crypto exchange, dubbed, ‘Everybody’s Bitcoin’ now incorporates itself into ‘Ratuken Payment’, the firm’s payments subsidiary.

One of the reasons for the acquisition of the exchange was to provide “smooth crypto payments”:

“We expect that 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, and have been considering entry into the cryptocurrency exchange industry as the Rakuten Group.” reads an official announcement.

However not much was known about how or when implementation of cryptocurrencies would occur, which now, appears to be much sooner than previously thought.

With Ratuken scalping over $10 billion in revenue annually, this is a major step forward for cryptocurrency adoption. Now, all we need is Amazon to step up their game. The ball is in your court, Bezos…

Read more: Japan online retail giant, Rakuten buys Bitcoin exchange for US$2.4M

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and this is actually no surprise. Japan is one of the leading countries in crypto currencies adoption and rakuten can definitely soon start accepting payments in crypto
18 Feb, 2019 - 14:46
Rakuten is the company that is very interested in offering payments method of crypto. as soon as legit questions with authorities will be handled I think we will see rakuten accepting cryptos as payments
18 Feb, 2019 - 15:42
Japan always the first, but still how
19 Feb, 2019 - 04:12

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