Rakuten - Modified Payments Subsidiary For Its Crypto Business.

Rakuten - Modified Payments Subsidiary For Its Crypto Business.

2019-01-23 | Big Bob

Rakuten - Modified Payments Subsidiary For Its Crypto Business.

In line with a recent news 'published', Japanese e-commerce company named ‘Rakuten' has declared a revision to its company’s restructure, setting up a modified payments subsidiary that embody its crypto business.

[Rakuten], also informally known by the name of ‘Japan’s Amazon,’ originally disclosed in August last year that it'd seek to reorganise its numerous offshoots so as to boost its accountability and decision-making processes.

Now, the company announced it'll rebrand its loyalty subsidiary, Spotlight Inc., to a new entity, Rakuten Payment, which will additionally run its crypto exchange.

Rakuten Payment, in addition with other details of the restructure, ought to go live by 1st Apr., the company declared in an official 'press release' on 18th Jan.

Once launched, it'll form an umbrella for two operations: cryptocurrency exchange Everybody’s Bitcoin [BTC], that [Rakuten] additionally acquired last Aug. in 2018, and pre-paid card service Rakuten Edy.

Officials explained within the press release:

“We have been preparing the Group Reorganization through a split, to clarify accountability, improve management efficiencies and optimize allocation of resources, and thereby additionally grow and expand the [Rakuten] phase and maximize company’s worth.”

Rakuten has been inquisitive about the cryptosphere for many years, 1st opting to just accept Bitcoin's [BTC] on its platform earlier in 2015.

The hands-on approach to the industry mirrors that of several other major Japanese web entities like 'SBI Group', that additionally to its own exchange also invests heavily in new startups.

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