Bitcoin Magazine Bitcoin and Blockchain News, Prices, Charts & Analysis
Subscribe
menuBitcoin Magazine Bitcoin and Blockchain News, Prices, Charts & Analysis

Landon Manning

Landon Manning is a writer for Bitcoin Magazine.

August 19, 2019
Investing

Rakuten Wallet Launches Bitcoin Spot Trading

  1. Bitcoin News › 
  2. Articles › 
  3. Rakuten Wallet Launches Bitcoin Spot Trading
The cryptocurrency wallet offering from Japanese e-commerce giant Rakuten has added bitcoin spot trading.
Sign up for the Newsletter

Rakuten Wallet has announced that it has launched a new service for crypto asset spot trading, complete with a dedicated smartphone app.

The Rakuten Group is a Japanese e-commerce leader that has been in operation for more than 20 years, raking in annual revenue of more than $9.3 billion. The company was a relatively early adopter of the potential of bitcoin, first accepting bitcoin as a payment method in early 2015. 

Since then, the company has demonstrated interest in embracing the world of cryptocurrency, setting up the Rakuten Wallet in March 2019. Rakuten Wallet was intended to be a subsidiary of Rakuten Group, a cryptocurrency exchange that is ultimately one facet of the company’s larger strategies. With this business up and running, new features are added regularly.

According to a press release issued by the company on August 19, 2019, Rakuten Wallet now features spot trading of bitcoin, ether and bitcoin cash — allowing users to trade for the cryptocurrencies with near-instantaneous delivery.

The release also notes that Rakuten Wallet is going to leverage a wide array of security features to protect customer funds for its new spot trading app, many of which are only possible through its status within the Rakuten Group. For instance, customer funds will be managed in a trust from Rakuten Trust Co. Ltd, which is itself managed by Rakuten Bank Ltd. Cold wallets, two-factor authentication and other security measures will also be used for protecting the crypto assets themselves.  

The release claims that this new feature will be accessible through a smartphone app 24/7, 365 days a year. Existing customers of Rakuten Bank will have a streamlined path to access the service and, initially, this app will only be available for Android, with iOS functionality coming soon.

Read Next
Japanese Regulator Issues Business Improvement Order to Fisco
Regulation

Japanese Regulator Issues Business Improvement Order to Fisco

The crypto exchange will have to improve its AML and risk management systems, plus make improvements to its auditing, accounting and outsourcing.

Jun 21, 2019
Huobi is back in Japan
Regulation

Huobi Resumes Operations in Japan as a Fully Regulated Exchange

Huobi is back in Japan, this time as a fully regulated exchange under Japan’s Financial Services Agency (FSA).

Jan 18, 2019
The bitcoin price is rising.
Investing

Bitcoin Price Analysis: Weeks of Consolidation Are Coming to a Head

The bitcoin price has been consolidating for several weeks and the volume and price volatilities are coming to a head.

Aug 26, 2019
The major breach comes as Japanese regulators have clamored for changes in how cryptocurrency exchanges store assets.
Privacy & security

Japanese Bitpoint Exchange Loses $32 Million of Cryptocurrency in Hack

The major breach comes as Japanese regulators have clamored for changes in how cryptocurrency exchanges store assets.

Jul 12, 2019