By The Japanese internet behemoth known as Rakuten has already begun letting potential users of its Rakuten Wallet crypto exchange open their accounts as reported by a local publication on Monday 15 April.
Rakuten, which has set its sights on launching the exchange in June, now offers online registration for traders. All users need is a Rakuten user ID and an associated bank account to complete the process.
The firm took over Everybody’s Bitcoin platform back in 2018 and introduced a number of key changes which enabled it to acquire a license for operation from the Japanese government back in December. As many of you already know, Everybody’s Bitcoin had previously been in the public eye and been cited by regulators for many a deficiency in management control.
Rakuten will join the ranks of a sturdy team of big players who are preparing to make their foray into the domestic cryptocurrency industry, and these players include Yahoo! Japan, which owns 40% of its forthcoming platform TaoTao, slated for a May launch.
Some of Rakuten’s competitors have added to their existing features by responding to demands from their user base. Earlier this week, Coincheck added its first altcoins to its over-the-counter trading desk, just after launching Bitcoin earlier in April.
Also, earlier this week saw a Japanese investor financing a whopping $200 million for the owners of Bithumb, a South Korean firm, as part of a Series A funding round.
However, not everyone is enthusiastic about launching at this time. Money Forward Inc, the developer of another exchange project decided to delay its plans of launching due to the current bear market:
“The virtual currency market has cooled rapidly and the downside risk of profitability has been increased by continuing the business,” a per a statement from the board regarding the decision.
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