Rakuten preps cryptocurrency launch

Japanese e-commerce giant, Rakuten, is fusing blockchain technology and its Super Points loyalty programme to create its own cryptocurrency, Rakuten Coin.

Customers using the cryptocurrency will be able to earn and use Super Points, also allowing ‎them to use their points on more than 70 services within the ‎Rakuten ecosystem.‎ The announcement was made by Rakuten CEO and founder Hiroshi Mikitani at Mobile World Congress this week. “Basically, our concept is to recreate the network of retailers and merchants. We do not want to disconnect [them from their customers] but function as a catalyst. That is our philosophy, how to empower society not just provide more convenience,” he said.