Rakuten has announced yesterday that it has gained approval for licensing from Japan’s financial securities authority (Kanto Local Finance Bureau) to provide virtual exchange services. It plans to roll out Rakuten Wallet within a month.
Having previously acquired Everybody’s Bitcoin, it has now rebranded officially into Rakuten Wallet. Previously Rakuten had received orders from the Finance Bureau to tighten up its security procedures, it has now done so and received their approval.
Rakuten’s foothold in the consumer market could help drive secure adoption in Japan, where regulatory clarity has sorely been needed. With competitors around the corner, the playing fields are opening soon–but will the players come?
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