One of the largest Japanese online commerce giants, Rakuten Inc., has launched a spot trading service for crypto assets in which users can conduct spot trading of crypto assets through a dedicated smartphone app called Rakuten Wallet.
According to the announcement, users can make deals in the spot market through a mobile application in bitcoin (EXANTE: Bitcoin), ether and bitcoin cash. The app is available for Android devices. The version for iOS should appear in September.
Rakuten claims assets of Rakuten Wallet users will be stored in a cold wallet, a multi-signature system will be used to manage private keys.
Rakuten began registering potential users of its crypto exchange in April through the Rakuten Bank service. Rakuten Wallet was developed based on Everybody's Bitcoin trading platform. In August 2018, Rakuten entered into an agreement to transfer a 100% stake in Everybody's Bitcoin. The deal cost the company 265 million yen ($ 2.4 million).
Back in 2018, Rakuten announced it would acquire a Japanese crypto exchange, Everybody's Bitcoin Inc., for $2.4 million.
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