Rakuten is one of Japan’s largest online retailers, and it’s often referred to as the Japanese version of Amazon.
The giant could soon accept Bitcoin (BTC) payments, and it could start processing BTC transactions via its mobile payment application.
The annual earnings reports of the giant company mentioned that the management is currently working on an update for its mobile payment network called Rakuten Pay.
CryptoGlobe notes that the upgraded version of the retailer’s payment is scheduled to come in March.
It’s not quite clear whether or how BTC or other cryptos will get support in the new version of the app, but Rakuten did reportedly note that “all payment solutions [would be] embedded into one platform.”
Rakuten acquired a crypto platform in 2018
Back in August 2018, Rakuten revealed that it was planning to buy a crypto exchange called Everybody’s Bitcoin for $2.4 million.
The purchase was made in October, and the management said back then that it believes “the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future.”
The online retailer had also said back in August 2018 the following: “In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function.”
Binance’s CZ advices online merchants to accept crypto
He said that there’s less paperwork involved by using the digital assets and this is basically the future of finance.
“I don’t understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography,” CZ said.
Most movements that are taking place in the crypto space these days lead to the same successful path of mainstream adoption.