Rakuten Integrates Crypto Wallets with Payment Platforms
Japanese e-commerce leader Rakuten has announced the integration of its cryptocurrency wallet service, Rakuten Wallet, with its mobile payment application Rakuten Pay. This strategic move enables consumers to:
- Deposit cryptocurrencies directly into their Rakuten Pay accounts
Spend digital assets at supported merchants through:
- Rakuten Cash
- Rakuten Pay
- Partnered retail outlets across Japan
Supported Cryptocurrencies and Transaction Details
The platform currently supports three major cryptocurrencies:
| Cryptocurrency | Symbol | Daily Use Case |
|---|---|---|
| Bitcoin | BTC | Retail purchases |
| Bitcoin Cash | BCH | Online payments |
| Ethereum | ETH | Service payments |
Key transaction policies:
- Minimum transaction: ¥1,000 (~$9.40)
- Monthly spending cap: ¥100,000 (~$940)
- No conversion fees between fiat and cryptocurrencies
👉 Discover how leading platforms are adopting crypto payments
Rakuten's Crypto Journey Since 2019
Rakuten's cryptocurrency adoption strategy has evolved through key milestones:
- 2019 Initiative: Launched point-to-crypto conversion program
- 2023 Expansion: Integrated wallet and payment systems
- Current Benefits: Offers Rakuten Points rewards for crypto usage
Membership Requirements
To access these crypto payment features:
- Must be registered Rakuten member
- Requires active Rakuten Wallet account
- Available only in Japanese market (for now)
Why This Matters for Crypto Adoption
Rakuten's move represents significant progress for cryptocurrency:
- Mainstream Validation: Major corporation embracing digital assets
- User Convenience: Seamless crypto-to-fiat conversions
- Market Expansion: Potential blueprint for other Asian e-commerce platforms
👉 Explore crypto payment solutions for businesses
Frequently Asked Questions
Q: Can international customers use Rakuten's crypto payments?
A: Currently only available to registered members in Japan.
Q: What merchants accept Rakuten Pay with crypto?
A: All Rakuten Pay partners including major retailers and online stores.
Q: Are there tax implications for crypto spending?
A: Japanese tax laws apply to cryptocurrency transactions; consult a tax professional.
Q: How does Rakuten ensure payment security?
A: The platform employs multi-layer encryption and compliance with Japanese financial regulations.
Q: Will more cryptocurrencies be added?
A: Rakuten hasn't announced expansion plans but may consider adding stablecoins.
Q: How do the Rakuten Points rewards work?
A: Users receive bonus points for initial crypto deposits and regular spending.
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