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Japanese ‘Amazon’ Rakuten opens registration for trading cryptocurrencies on Rakuten Wallet

Febin Jose

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Japanese ‘Amazon’ Rakuten opens registration for trading cryptocurrencies on Rakuten Wallet
Source: Pixabay

Rakuten, the Japanese equivalent of e-commerce giant Amazon, announced that it has opened registrations for its cryptocurrency exchange, in a recently released press release. According to the statement, account registrations for trading cryptocurrencies on the company’s Rakuten Wallet were now open.

However, to avail the service with ease, the user should be a member of the Rakuten Bank, a part of the Rakuten Group. Users registered with the bank will have the liberty to sign up using a web application, while others will have to go through multiple layers of authentication.

The KYC procedures that Rakuten will choose to include are expected to play a major role in the adoption of the cryptocurrency exchange. The official statement by Rakuten said,

“[…] we have enhanced support for customers by introducing an automatic response chat service that employs AI technology that responds to customer inquiries 24 hours a day, 7 days a week.”

The move comes after the e-commerce giant received a license from the Japanese Financial Service Authority [FSA] to function as a crypto-asset exchange. According to sources, Rakuten is expected to launch the exchange in June this year and users only need a Rakuten ID and a supplementary bank account to complete registration for trading crypto-assets.

Rakuten has been approaching global adoption from a different perspective as it partnered with FC Barcelona, a renowned Spanish football team, to promote its services and increase its global visibility.



Furthermore, Rakuten had also taken over a Bitcoin platform called Everybody’s Bitcoin in 2018. This was its first step into the crypto-verse as the platform then initiated changes which helped it meet the demands of Japanese regulators. Earlier. Everybody’s Bitcoin had come under criticism from the financial regulatory body over “deficiencies in management control”.

With the amalgamation of Rakuten, which was known for its management hierarchy and efficiency, FSA was convinced that the firm now had enough management control and voted in support of its demand to work as a crypto-asset exchange.





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Febin Jose is a full-time journalist/editor at AMBCrypto. He believes that cryptocurrencies will navigate a volatile future and that Arsenal can still win a title. Lives around the "if it sounds like writing, I rewrite it" mantra.

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Bitcoin nirvana is happening right now, says Max Keiser

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Bitcoin nirvana is happening right now, says Max Keiser

Bitcoin’s price pump affected the altcoins’ valuation on an optimistic note. The digital coins recovered significantly this year after losing nearly 80% to 90% valuation since the market crash in the first quarter of 2018. As Bitcoin [BTC] continued to trade between $7,600 and $8,300, prominent analysts in the field speculated that the king coin could potentially spiral down a bit more. However, Max Keiser, a Wall Street veteran and host of the Keiser Report, who is also a noted Bitcoin bull is of the opinion that “crypto spring is here”.

The broadcaster, in the latest edition of the Keiser Report, stated,

“It’s just bleeding right into our lives we can hear the lawnmowers outside in there getting ready for crypto summer and then crypto fantasia crypto parallel dimension and the Bitcoin nirvana it’s all happening, it’s all happening, right now.”

Keiser also noted that the global economy was undergoing “deglobalization” which steemed out of uncertainty and volatility and added that there “was no way to hedge against that”.



Stacy Herbert, one of the most influential women in blockchain and a host alongside Keiser contributed to the discussion. She said at a time when deglobalization has hit the economy, one would certainly go along with Bitcoin. According to the broadcasters, trade wars between China and the USA was currently intensifying Herbert; While recalling history, they also took note that the empires started falling during the period of deglobalization which was eventually followed by the two world wars.

Keiser had previously remarked that “Bitcoin is hard money” very similar to gold, and added that it is going to “respond well to hyperinflation and hyper-money printing”.





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