The Japanese e-commerce and internet company Rakuten is based in Tokyo, Japan and is one of the biggest platforms of its kind in the nation. In a new updated pushed by the platform, they look to be offering Bitcoin and other cryptocurrency implementation sometime in the near future. Rakuten announced a massive update for its mobile app platform Rakuten Pay which is set to release later next month with the potential inclusion of cryptocurrency payments in conjunction with fiat.
In the new updated version of the app, it will apparently include “all payment solutions embedded into one platform,” leaving many to wonder if this is an indirect course of announcing support for Bitcoin and some other big market cryptocurrencies.
The e-commerce platform is commonly referred to as the ‘Japanese Amazon’ while the actual Amazon doesn’t seem to have done anything on the crypto front for the popular online store.
In January 2019, Rakuten was reported to have shifted its corporate structure to make the companies cryptocurrency exchange Everybody’s Bitcoin into a new payments subsidiary. The exchange was bought out for $2.4 million in August 2018 and was claimed to be the first step for crypto payments on the e-commerce platform. Rakuten’s restructure is further proof that the giant is looking into cryptocurrency as a possible asset for payment in the future.
On top of this, the report contains information about updates to the firm’s prepaid card service Rakuten Edy, which includes integration for QR codes. This is just another hint that the implementation of cryptocurrency is just around the corner for the platform. In addition, the report also indicates that we should be bullish for crypto payments in regards to the impact of Rakuten in the event of accepting Bitcoin for payment. As it says in the report, the Japanese e-commerce site’s income “rose by 28.4 % in 2018, to a total of $1.3 billion.”