Amazon of Japan, Rakuten Hints at Cryptocurrency Acceptance in its Earnings Report

Rakuten, also known as the Japanese Amazon is reportedly exploring the integration of Bitcoin and other cryptocurrencies for their mobile app update. The update is set to release next month, March 2019 and will apparently include several payment solutions of which Bitcoin and other cryptocurrencies could be supported. These hints have emerged in their most recent earnings report.

The report also suggests updates to Rakuten Edy which will include QR code scanning, which is a significant hint at bringing about digital currencies.

Rakuten is already part of the cryptocurrency ecosystem with its very own exchange called Mina no Bitcoin which translates to Everybody’s Bitcoin, which was acquired in August 2018 for $2.4 million.  Since acquisition Minna no Bitcoin cryptocurrency platform has not seen much activity and suggests it could be facing a massive uplifting in terms of services offered.

Blockmanity had reported in January speculating on the possibility of Rakuten adding Bitcoin payments as an option, it seems like it is finally coming to fruition. Rakuten is proving to be a success story, with a net income which rose by 28.4% to jump to a whopping $1.3 billion. Rakuten bringing cryptocurrency to its payment integration could result in massive adoption of Japanese crypto users.

Blockmanity’s Take

While 2018 was bent towards the solution to cryptocurrency’s growing regulatory issues, 2019 is shaping up to be the year of adoption. From  Lightning Network being used for buying Domino’s pizza to more prominent firms like JP Morgan hopping on the crypto technology bandwagon with JPM Coin, cryptocurrency seems to be the most talked about the revolution in recent times.

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