JAPANESE TECH GIANT DOUBLES DOWN ON BITCOIN, BUYS CRYPTO EXCHANGE

[manyexp]

Tokyo-based Rakuten recently purchased the coin exchange Everybody’s Bitcoin Inc.

The deal is expected to be finalized by October 1, 2018, as Rakuten purchased 100% of the company’s shares for 265 million yen ($2.4 million). The tech giant runs one of the world’s largest e-commerce platforms, Japan’s largest internet bank and the country’s third-largest credit card company by transaction value.

According to the company’s statement,

“Rakuten Group decided to acquire Everybody’s Bitcoin shares so that it can realize the early registration as a cryptocurrency exchange and develop cryptocurrency services to customers by combining the know-how of Everybody’s Bitcoin as a cryptocurrency exchange, and the know-how of Rakuten Group as a provider of various financial services.”

“We expect the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future.”

“In order to provide cryptocurrency payments methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function.”
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https://dailyhodl.com/2018/09/04/japanese-tech-giant-doubles-down-on-bitcoin-buys-crypto-exchange/