Amazon of Japan, Rakuten, likely to introduce Bitcoin payments

One of the biggest dreams of the cryptocurrency community is to use Bitcoins to pay for online shopping, not just on any other website but on Amazon (the world’s largest e-commerce store). Now we don’t know when this dream would be a reality for the West, but for Japan, it is soon about to become a reality.

Rakuten, the largest e-commerce store in Japan, is most likely going to introduce Bitcoin as a means of payment on their e-commerce website after April 2019, reports CoinTelegraph Japan. Last year the e-commerce giant entered the cryptocurrency space after it acquired “Everybody’s Bitcoin” back in September 2018.

Rakuten Inc is going through a corporate restructuring in which its various businesses and subsidiaries will be consolidated in 4 major businesses: “Internet service”, “communication”, “Finetec” and “Settlements”. The structuring will be completed by April 2019.

According to the documents released by Rakuten – Everybody’s Bitcoin will become a part of Rakuten’s Settlements business rather than the Fintech business. Rakuten Settlements will be responsible for serving, processing and settling all payments of Rakuten’s businesses.

Rakuten has publicly shown support towards cryptocurrency payments,

“The role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future”, Rakuten on the purchase of local cryptocurrency exchange, Everybody’s Bitcoin.

Everybody’s Bitcoin will stop its service from March 2019. It is not clear when the service will be opened to the public again, but if Rakuten decides to open it, it will be after the corporate restructuring only.

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