The country of Japan has been a major hub for crypto adoption over the past couple of years. Aside from the pseudonym of the creator of Bitcoin, we can see that the country is gearing to crypto and some of the largest cryptocurrency companies have called it the home over the past decade. One of the largest electronics giants in the world, Rakuten Group, recently made new efforts when it comes to Bitcoin adoption and showed that all of this is true.
Besides this, Japan is known as a technologically advanced society which is ready to adopt innovation at all times. This is no surprise at all as some of the largest firms are embracing Bitcoin now and discovering ways to make cryptocurrencies a mainstream trend.
As a new press release published by Rakuten Group unveils, the Japanese eCommerce and electronics giant which serves millions of customers in Japan has launched a new service which will allow users to convert “Rakuten Super Points from Rakuten Group’s loyalty points program to crypto assets.”
We already talked about this addition in our cryptocurrency news and explained the rationale of the move, quoting Rakuten Group and its official announcement which read:
“Through the launch of the new service, Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience.”
But what could this mean for Rakuten Group, Japan and the cryptocurrency industry as a whole?
According to analysts like Rhythm, the company is referred to as “the Amazon of Japan” and has more than 95 million users in what is known as Asia’s second-largest economy. All of this creates a big impact and the news story comes months after Rakuten launched Rakuten Wallet, its own cryptocurrency exchange.
Japan’s largest e-commerce company just launched a service to exchange loyalty points for cryptocurrency.
Rakuten is referred to as "the Amazon of Japan".
Over 95 million users in Japan can now earn bitcoin.
— Rhythm (@Rhythmtrader) December 24, 2019
Right now, Rakuten Group supports Rakuten Wallet as an exchange which offers spot trading in three cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). However, the company was featured in the coming altcoin news before and noted that this list is bound to expand soon.
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