In line with an official ‘press release‘ published, renowned Japanese e-commerce platform named ‘Rakuten’ has successfully completed registration of its cryptocurrency exchange Rakuten wallet, expected go live by next month.
Rakuten, that follows many leading Japanese based tech players in getting into the cryptocurrency exchange market, renamed its product from Everybody’s Bitcoin [BTC] earlier this month.
However, the company had ‘acquired‘ the exchange beneath its former name in August last year for around $2.4 Mln at the reporting time.
Following a consolidation time period throughout which Rakuten made changes to its structure, executives have confirmed that Everybody’s Bitcoin in its present guise can cease operations by the end of March.
While explaining further, the press-release added:
“Rakuten wallet would contribute to the sound growth of the market as a virtual currency exchange company, and can additionally enhance security and offer enhanced services so as additional customers can use it safely and confidently.”
Everybody’s Bitcoin has ‘acquired‘ a business improvement order from Japanese finance regulators earlier in April last year as a part of its investigations that followed the half-billion-dollar hack of fellow Japanese platform Coincheck three months earlier.
Several other exchanges had also received such ‘orders‘, that were based on reviews of security and data handling.
As ‘reported‘ earlier, Coincheck itself had secured an acquisition from on-line broker Monex Group, that paid around $33 Mln for the platform in April.
However meanwhile, another ‘news‘ also came that TaoTao, the cryptocurrency exchange that is 40% acquired by a native subsidiary of Yahoo! Japan, would itself begin its operations soon from May.
Yahoo! Japan had ‘purchased‘ equity within the exchange, antecedently known as BitARG, via YJFX last March at a price of around 2 Bln Yen.