The subsidiary of Japanese e-commerce giant Rakuten has recently launched spot market trading of crypto assets through a dedicated app phone.
Rakuten Wallet Inc. becomes a consolidated subsidiary of the Rakuten after the company acquired “Everybody’s Bitcoin” exchange in August 2018 for the amount of $2.4 million to leverage its infrastructure to operate its own exchange.
This is great news not only the local crypto community at Japan but to the wider cryptocurrency community, since Japan is the second-largest cryptocurrency exchange market in the whole world second only to the U.S.
Although it is still unclear what will be the effect of the entry of one of the most influential conglomerates in the local e-commerce and technology sector it would likely add to the confidence of local users on the reliability of local exchanges.
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