The recognized Japanese tech giant Rakuten, will allow users to purchase cryptocurrencies. The firm has been granted a license by the Japanese Financial Services Agency (FSA) that allows it to operate as a cryptocurrency exchange. Since yesterday, users can get registered to use the new Rakuten Wallet. The information was released by the bank on April 15.
Rakuten Bank Users Can Purchase Digital Assets
In a recent statement released by the bank, they inform that they are working on a smartphone application that would allow individuals to deposit and withdraw virtual currencies and trade them regardless of the location.
Rakuten is one of the largest e-commerce platforms in the world and it is also known as the Amazon from Japan. Some reports spread in the past regarding the possibility of Rakuten to start offering users the possibility to trade digital assets.
At the moment, the company is accepting cryptocurrency payments on its platform from 29 different countries in which it operates. This could be very positive for digital assets since there is an increasing number of banks and financial institutions already entering the crypto space.
The exchange is expected to be launched in June and users can register themselves on the platform. In order to be able to be registered, individuals must be members of the Rakuten Bank, which is part of the Rakuten Group. Those users members of the bank will have the chance to sign up with a web app. Meanwhile, users that are not clients of the Rakuten Bank will have to go through multiple layers of authentication.
According to Cointelegraph, the official statement informs that they have enhanced support for customers with the introduction of an automatic response chat service. Users can have their questions answered 24 hours a day, 7 days a week.
Users that want to purchase and sell virtual currencies through this platform will have to provide a Rakuten ID and supplementary bank information. This would allow them to have access to the platform’s services.
Rakuten has also taken over a Bitcoin (BTC) platform called Everybody’s Bitcoin. This was one of the first movements that the firm took regarding the crypto space. The firm was able to be compliant with the current regulations imposed by the Japanese government to control the market.
With the recent approval to operate in Japan, Rakuten is getting prepared to offer users new crypto-related services.