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In a press release issued last week, Japanese Rakuten group announced that it will ease the use of cryptocurrencies for their users.
By linking its crypto platform, Rakuten Wallet, with its e-pay operators, Rakuten is taking another significant step forward and thereby makes it possible for users of its Rakuten Wallet to top up their e-pay accounts using Bitcoin (BTC), Ethereum (ETH) and Bitcoin cash (BCH). Rakuten believe to be innovative in Japan by saying that no other firms allowed “charge-free” crypto-to-e-pay transactions.
In practice, it means that users of the Rakuten Wallet can start using their crypto balance at Rakuten Pay, to transact with. Almost all major retail brands in Japan and Asia accept Rakuten Pay as a payment method.
There is also an integration with Rakuten Cash (a so-called e-cash service) with which other bills can be paid. A major selling point are the 0% transaction costs for internal settlements between its Wallet, Pay and Cash platforms.
Rakuten users will now also be able to spend their cryptocurrency on a range of its own products and services, such as travel, streaming and mobile services.
Rakuten a true powerhouse in Japan, are a frontrunner in the cryptocurrency adaptation and operate their own cryptocurrency exchange since March 2019. Rakuten Group proudly state that their products and services serve approximately 1.4 billion (!) Companies and individuals.