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.
