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Japanese Company Rakuten Plans to Buy Crypto Exchange

Japanese Company Rakuten Plans to Buy Crypto Exchange

The Japanese giant of e-commerce, Rakuten, plans to take a new step towards the cryptocurrency industry. In particular, it became known that it was buying a cryptocurrency exchange. This news appeared in the statement of the company's representatives. They noted that Rakuten had signed an agreement to transfer 100% of the shares of Bitcoin Exchange Everybody. The deal should end on October 1. The estimated purchase price is 265 million yen, which is equivalent to $2.4 million.

In the e-commerce company Rakuten believe that to date, the role of cryptocurrency payments is very large. Are they used in both e-commerce and retail? and in P2P payments.

The purchase of the trading floor is explained as follows:

"In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function."

In addition, the company was informed that the purchase is a response to the demands of a growing number of clients for the exchange of foreign currencies in the division responsible for managing securities.

It should be noted that cryptocurrency exchange Everybody's Bitcoin was launched in 2017. It is one of several unlicensed trade sites in Japan, which were subjected to verification by the Japanese Financial Services Agency. This test began after a major hacking of the Coincheck trading platform, which occurred earlier this year. Recommendations that were put forward by the regulator are aimed at improving the security of crypto exchanges and, in general, their work.

In the company Rakuten believe that the purchase of a crypto exchange should help in strengthening internal systems, in order to meet the requirements of the regulator and continue to receive a license to work.

To date, it is known that Everybody's Bitcoin had a net loss of $444 thousand on March 30, 2018 (the end of the fiscal year).
Earlier it was reported that the company Rakuten plans to launch its own cryptocurrency, in order to provide assistance in expanding the global user base.

#Rakuten, #cryptoexchange