Japanese retail giant Rakuten has linked its crypto wallet to its payment app. This allows customers to use their Bitcoin holdings in everyday purchases.
The crypto-friendly Japanese trading platform Rakuten now offers Rakuten Wallet users the option of using cryptocurrencies for everyday transactions. Rakuten Wallet is the platform’s crypto-exchange subsidiary
According to an announcement on February 24, users can now seamlessly top up their Rakuten Pay accounts with their Bitcoin ( BTC ), Bitcoin Cash ( BCH ) and Ether ( ETH ). Rakuten Pay is a mobile payment app that is used nationwide and is supported by many large and medium-sized merchants.
Rakuten had already offered to convert their Rakuten Group loyalty points into cryptocurrencies such as Bitcoin in 2019 . Now there is another integration. The Rakuten Wallet, Rakuten Cash (Rakuten’s e-money service), and Rakuten Pay will be linked and support cryptocurrency purchases from retailers such as McDonald’s, Seiyu, and FamilyMart.
There are no conversion fees between fiat, e-money and crypto holdings. However, there is a minimum purchase amount of around $ 9.40 and a monthly cap of around $ 940
To use the integration, users must be a Rakuten member and have a trading account with Rakuten Wallet. The company is also offering a small bonus in Rakuten Points as an incentive for the new service.