In line with a recent ‘official news‘ published, Japan’s renowned web giant Rakuten has begun letting prospective users of its Rakuten Wallet cryptocurrency exchange open accounts.
Rakuten, expects to ‘launch‘ its exchange later in June by this year, while presently it offering on-line registration for traders, all of whom require a Rakuten user ID and associated bank account to complete the process.
The company ‘took over‘ Everybody’s Bitcoin platform earlier in last year, introducing changes that allowed it to obtain a license for the operation from Japanese regulators in December. Everybody’s Bitcoin had antecedently been cited by regulators for deficiencies in managements.
Rakuten joins a gradual stream of major players preparing an entry into the domestic cryptocurrency arena, among with Yahoo! Japan, that ‘owns‘ around 40% of forthcoming platform name ‘TaoTao’, set for launch by next month.
Others have added to their existing options to respond to user demand. This week, Coincheck ‘added‘ two new altcoins namely Ethereum [ETH] and Ripple [XRP] to its OTC [Over-the-Counter] trading desk, having launched with Bitcoin [BTC] at the beginning of April.
Even earlier this week, a Japanese capitalist financed around $200 Mln for the owners of South Korean platform named ‘Bithumb’, a part of a Series A funding spherical.
Moreover at the same time, Monday Forward Inc., the developer of another exchange project, had ‘decided‘ not to go ahead with its plans because of the continuing cryptocurrency bearish market trend.
“The virtual currency market has cooled quickly and therefore the downside risk of gain has been increased by continuing the business,” a board statement about the decision confirmed.