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HomeCryptoCurrencyJapan's Largest Digital Store Facilitates Bitcoin Payments Through Rakuten Pay

Japan's Largest Digital Store Facilitates Bitcoin Payments Through Rakuten Pay

The multinational giant of Japan founded in 1997, announced on February 24 that it will allow its users to load the balance of Rakuten Cash (Rakuten Group electronic money) with bitcoin (BTC), ether (ETH) and bitcoin cash ( BCH) without charging any type of fee. As an incentive, users will receive a Rakuten cash for every 100 yen spent (including taxes).

In the statement, Rakuten reported that, during the first month of this service, up to 1,000 points will be compensated Rakuten, depending on the amount loaded, for using cryptocurrencies in the process.

Rakuten Cash can be used for purchases at Rakuten Ichiba (the largest online store in Japan) and other Rakuten Group services; payments in supermarkets; Convenience stores and pharmacies located throughout Japan. This through the Rakuten Pay or Rakuten Point Card applications.

The amount of Rakuten Cash that can be loaded using bitcoin and other cryptocurrencies, it ranges from a minimum of 1,000 yen (USD 9.38), up to a maximum of 100,000 yen (USD 938.40) per month.

Rakuten is a company listed on the Japan’s tech exchange with a market capitalization close to USD 5 billion. It has more than 3,700 employees and more than 50 million registered users. Rakuten is among the ten largest internet companies in the world.

As reported in CriptoNoticias, in August 2019, Rakuten presented an electronic cryptocurrency portfolio that offers, among other things, trading of these assets. Until now, cryptocurrencies could only be accessed through bank withdrawals, for which it was necessary to pay a fixed handling fee of 300 yen (approximately USD 2.82, taxes included) after each transaction. However, with this new service, users can load their Rakuten Cash balance without having to pay handling fees .

CriptoNoticias has given follow up on Rakuten’s growing interest in venturing into the world of cryptocurrencies. It was previously reported that it would be possible to exchange loyalty points for cryptocurrencies on the company’s exchange.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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