Japan’s Rakuten Introduces New Crypto Exchange

Rakuten

The cryptocurrency industry has grown at a breakneck pace over the past two years or so, largely due to the growth of Bitcoin and other tokens. Due to such growth, many companies have been established that provide highly specialized services related to crypto wallets as well as exchanges. Wallets help people to store their crypto safely, while exchanges are the marketplaces where anyone can buy a cryptocurrency.

Japanese retail behemoth Rakuten saw the opportunity early on and has already established the Rakuten Wallet as one of its subsidiaries. Rakuten Wallet is a crypto exchange, and today the company announced that spot trading facilities are now live on three major cryptocurrencies.

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According to the press release published by Rakuten today, the cryptocurrencies that are now available for spot trading include Bitcoin, Bitcoin Cash, and Ether. The company went on to state that the developers are currently working on developing apps for both Android and iOS as well. Additionally, it has been pointed out that the usage of these apps, when they are made available, will be compulsory for customers if they want to use the platform.

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The application process has also been made as simple as possible and particularly for those who already bank with Rakuten Bank. In the press release, the company stated, “Customers who already have a bank account with Rakuten Bank will be able to easily open a Rakuten Wallet account simply by entering the required information on the online application form.”

Over the course of the past few years, the cryptocurrency ecosystem in Japan grew at a highly impressive rate, and currently, the country remains one of the most advanced markets for crypto traders. In addition to Rakuten Wallet, there are plenty of other options for crypto traders to choose from, and hence, a service has to be offering something extra if it wants to draw customers.

Featured image: DepositPhotos © makidotvn

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