As per the company’s statement it has inked a share transfer agreement for 100 % of an exchange known as ‘Everybody’s Bitcoin.’ This purchase costed the company around $2.5 Mln’s.
Explaining this, Rakuten mentioned that it believes in the role of digital currency-based payments in e-commerce, offline retails and P2P payments that will definitely grow in the coming future.“
Adding further the company said that:
“In order to ensure digital currency payment strategies swimmingly, we tend to believe it’s necessary to supply a crypto exchange function.”
Further, the firm indicated that this is in response to demands from a growing variety of customers on its securities business arm that are already asking for providing a cryptocurrency exchange service.
Launched earlier in March precious year, ‘Everybody’s Bitcoin’ today is one amongst the many unauthorised crypto exchanges operating in Japan that came underneath scrutiny from Japan’s Financial Services Agency. With the planned acquisition, Rakuten aims to help the exchange in enhancing its internal systems in a trial to fulfill with the regulator’s necessities for getting a license.
This deal follows after a previous report that Rakuten is additionally progressing to launch its own cryptocurrency as the simplest way to assist the cluster expand its international user base. The e-commerce firm initially started accepting bitcoin payments back from 2015, after it integrated its U.S. web site with bitcoin payment processor ‘Bitnet’.