Rakuten Buys Everybody's Bitcoin

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  • Japanese e-commerce giant Rakuten is planning another step into the cryptocurrency industry with the acquisition of a local Japanese bitcoin exchange, called "Everybody's Bitcoin"

    Explaining the move, Rakuten said it believes "the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future," adding:

    "In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function."

    Further, the firm indicated that the acquisition is in response to demands from a growing number of foreign exchange customers on its securities business arm, who have been calling for the offering of a cryptocurrency exchange service.

    Rakuten opened a Research & Development Lab focused on blockchain & cryptocurrencies technology in Belfast back in August 2016.  The Belfast team is working with various Rakuten companies on this and other exciting projects.

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