Rakuten could be introducing crypto payments
Rakuten could be introducing crypto payments

Rakuten could be introducing crypto payments

By Fabio Lugano - 18 Feb 2019

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Rakuten has presented its 2018 financial results and, in its documents, indirectly opens the door to the payment of bitcoin and other crypto payments.

The Japanese company, an international e-commerce giant and the leader in the islands of the rising sun, offers a series of integrated services that go far beyond the product range and expand to multimedia content, ticketing services and mobile phone services up to 5g.

In the presentation to the financial data, it is mentioned the creation of a new unitary division dedicated to the unified management of payments, currently divided across different platforms.

However, this would mean bringing the acceptance of crypto and bitcoin payments worldwide, which is currently only allowed on the dedicated platform in the USA, where virtual currencies have been accepted since 2015.

rakuten crypto payments

The Rakuten app, which will be made public on March 18, has all the features necessary to accept crypto payments, such as the ability to read QR codes, and will be integrated with other payment systems such as credit cards, as well as the management of the reward system with points, gifts, and vouchers.

In 2018, Rakuten had a turnover of 1,104 billion yen, or 8.8 billion euros, and registered profits of 1.1 billion euros. The widespread adoption of payments in BTC worldwide, on turnovers of this magnitude, would lead to a significant boost in the adoption of payments in crypto.

Last August Rakuten bought Everybody’s Bitcoin, making it clear that they wanted to enter the exchange service through a new acquisition, an objective that has not yet occurred.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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