Japanese e-commerce titan Rakuten is now allowing customers to pay with Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).
In a new announcement, the retail giant reveals it’s integrating the company’s crypto exchange subsidiary with their Rakuten Pay app.
[adinserter block="1"]The integration will allow customers to seamlessly convert their crypto into Rakuten Cash tokens which can then be spent at merchants.
According to the announcement, the conversion process costs nothing but has to be a minimum of 1,000 yen, which is about $9.40. Monthly limits are capped at 100,000 yen, or roughly $940.
Rakuten is Japan’s largest e-commerce company and provides a myriad of services such as online banking, a messaging app, and mobile phone coverage.
The firm’s payments app is supported by more than 50,000 retailers, including McDonald’s, 7-Eleven, and Family Mart.
According to Statista, the Tokyo-based mobile payments firm has 116 million users on its platform, boasting steady growth since 2014.
The Japanese retailer plans on incentivizing the use of crypto on their platform through a reward program that gives customers “Rakuten Points.”
The rewards program will be running from February 24th to March 24th.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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