Japanese e-commerce giant Rakuten has completed registration of its cryptocurrency exchange Rakuten Wallet.
This was recently renamed from Everybody’s Bitcoin and will go live in April, a press release confirms. Rakuten acquired the exchange last year for 265 million yen, a few months after Japanese authorities issued a business improvement order against Everybody’s Bitcoin due to concerns about its risk management system.
Rakuten said at the time: “We expect that the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future. In order to provide cryptocurrency payment methods smoothly, we believe it is necessary for us to provide a cryptocurrency exchange function.”
It has now completed a restructuring process, including formulating a business improvement plan and strengthening business management and internal control systems, the press release notes.