Adoption: Rakuten (Amazon of Japan) to likely introduce BTC as a payment option

[blockmanity]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

[bitfocus]

if it happens, that will be a real great news for crypto users!

[LeGaulois]

They said the same thing last year and we're still waiting. I know people will say it takes time etc which I agree with, but we need facts and not just some "I will..." to make the shareholders happy.
I am sure too we won't be able to pay using BTC directly, they will create something like a payment processor in which we will able to deposit our bitcoins, and then install the payment processor on theirs websites. In the end, we still need to use a 3rd party...

[blockmanity]

if it happens, that will be a real great news for crypto users!

Rakuten has been eyeing Bitcoin payments since last year, so I am hopeful

[blockmanity]

They said the same thing last year and we're still waiting. I know people will say it takes time etc which I agree with, but we need facts and not just some "I will..." to make the shareholders happy.
I am sure too we won't be able to pay using BTC directly, they will create something like a payment processor in which we will able to deposit our bitcoins, and then install the payment processor on theirs websites. In the end, we still need to use a 3rd party...

The company has released a corporate structure,
https://global.rakuten.com/corp/news/press/2019/0118_05.html?year=2019&month=1&category=corp%20ir

The above link explains how the cryptocurrency exchange will now be part of the payment's business.

[dothebeats]

They said the same thing last year and we're still waiting. I know people will say it takes time etc which I agree with, but we need facts and not just some "I will..." to make the shareholders happy.
I am sure too we won't be able to pay using BTC directly, they will create something like a payment processor in which we will able to deposit our bitcoins, and then install the payment processor on theirs websites. In the end, we still need to use a 3rd party...

The company has released a corporate structure,
https://global.rakuten.com/corp/news/press/2019/0118_05.html?year=2019&month=1&category=corp%20ir

The above link explains how the cryptocurrency exchange will now be part of the payment's business.

If so, this will be a boost for bitcoin, not necessarily in price but perhaps in usability and fundamentals. Rakuten would probably just sell the bitcoins anyway after they have received it from users, kinda like what Bitpay does but we'll never know. They can have a crypto exchange of their own but they can still dump the bitcoins they received on their store immediately, so there's that. All in all though it's good that a huge player in the e-commerce business is ready and willing to accept bitcoin for a form of payment, unlike most of their competitors nowadays.

[avikz]

The company has released a corporate structure,
https://global.rakuten.com/corp/news/press/2019/0118_05.html?year=2019&month=1&category=corp%20ir

The above link explains how the cryptocurrency exchange will now be part of the payment's business.

Can you please quote the exact lines from the press release which talks about bitcoin or crypto payments becoming part of their retail or e-com business?? Because I am not able to find anything of that sort! What I found is a mention of "everybody's bitcoin Inc." which is an unlicensed crypto exchange in Japan, possibly non operative currently. I see no mention of accepting crypto payments in their retail/E-commerce business.

Creating or re-opening a crypto exchange is not going to help. It will just become another hub for speculators. It will be beneficial if they start accepting crypto payments for the goods they sell through their retail/e-com chain, where common public like us will be able to use crypto or bitcoin payments. Otherwise, it's nothing exciting!

[blockmanity]

The company has released a corporate structure,
https://global.rakuten.com/corp/news/press/2019/0118_05.html?year=2019&month=1&category=corp%20ir

The above link explains how the cryptocurrency exchange will now be part of the payment's business.

Can you please quote the exact lines from the press release which talks about bitcoin or crypto payments becoming part of their retail or e-com business?? Because I am not able to find anything of that sort! What I found is a mention of "everybody's bitcoin Inc." which is an unlicensed crypto exchange in Japan, possibly non operative currently. I see no mention of accepting crypto payments in their retail/E-commerce business.

Creating or re-opening a crypto exchange is not going to help. It will just become another hub for speculators. It will be beneficial if they start accepting crypto payments for the goods they sell through their retail/e-com chain, where common public like us will be able to use crypto or bitcoin payments. Otherwise, it's nothing exciting!

They haven't mentioned it per say, but if you look at the image it shows and Everybody's Bitcoin, becomes part of Rakuten Payments..and the PR clearly mentions Rakuten payments will be responsible for the payments related to Rakuten. 2 and 2 can be pieced together that Rakuten is planning something huge with Bitcoins.

If you look at the top article, Rakuten has publicily supported cryptocurrencies in the e-commerce and P2P space. Rakuten owns line, with the threat of Facebook coming up with own cryptos, Rakuten would try to incorporate P2P payments in line itself.

[Pab]

It could be great if that will happen
Together with Bakkt launch we can  have bitcoin in use finally
From today Coindesk article i know that digital YEN is in test phase
I am sure that China will also launch digital YUAN faster and sooner
I am curious does launch of gov digital money will have any impact on crypto currencies market

[blockmanity]

It could be great if that will happen
Together with Bakkt launch we can  have bitcoin in use finally
From today Coindesk article i know that digital YEN is in test phase
I am sure that China will also launch digital YUAN faster and sooner
I am curious does launch of gov digital money will have any impact on crypto currencies market

Wow that's goood. Can you share the article?

I don't think China is launching Digital Yuan anytime soon and even if they do it probably won't be for existing cryptocurrencies

[Upgate]

This would be a massive cryptocurrency leap for enthusiastic Asian cryptocurrency lovers rakuten is massive in Japan, Asia and the world at large so it's quite good to see this coming through

[aceptamosbitcoin]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

If Rakuten really adopt any crypto, Bitcoin or not, it will be huge. They made some great sponsorship deals with great tennis players in 2018 with intention to enter into EU/US markets.
But every few month I read about rumours of bitcoin adoption from giants like Amazon and Rakuten and at this point no one adopt it for real. So for now this is just in rumours column.

[1Referee]

I am curious does launch of gov digital money will have any impact on crypto currencies market

It depends. Not everyone needs a decentralized/censorship resistant form of money, so if governments issue a fiat like token people can transfer 24/7, they will use it just because it's convenient, stable, and a way better form of money than any crypto is today.

Bitcoin has the advantage of being digital Gold already, so there isn't much damage it can inflict there, especially with how the far majority of the people here don't use Bitcoin as a currency for day to day transactions anyway. We're still using fiat, and we will continue to do so in the forthcoming years, so unless a major fiat currency implodes and people lose faith in government issued money, not much will change.

[veleten]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

If Rakuten really adopt any crypto, Bitcoin or not, it will be huge. They made some great sponsorship deals with great tennis players in 2018 with intention to enter into EU/US markets.
But every few month I read about rumours of bitcoin adoption from giants like Amazon and Rakuten and at this point no one adopt it for real. So for now this is just in rumours column.

even the rumours, which in Rakuten's case looking like very real possibility, give a boost to cryptocurrencies in this bear market
and if it goes through, this will put bitcoin in the line of payment systems in Japan
this is huge on so many levels, adoption is one thing, but having one of a big retailers running the payment system accepting bitcoins
is going to ge a test for the whole potential of Lightning Network and find the bottlenecks in how fiat-crypto day to day exchange is working on a big scale
expect the price to rise significantly if this happens

[coinwizard_]

Japan is always the leader in technology. This is a good step forwards for mainstream adoption. I'm sure after this they will be usable to buy asahi beers in the supermarkets

[kryptqnick]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

Viber is their app, right? I hate this one! The dialogues keep disappearing every time there's a desynchronization, and the whole thing is just buggy and inconvenient. However, it's indeed great that bitcoin will be accepted for payment by a large E-commerce company! Japan is a nice country for cryptocurrencies. Not only its policies are friendly for crypto business, what's more important is that bitcoin is recognized as legal tender there rather than as assets, securities, commodities and other stuff like other countries like to say about cryptos.

[clonely]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

If it is true, It is great news for all of us. We need some developments more like this one. Remember, Bitcoin is a payment tool. And it should be use this way.

[Xardasim]

A positive innovation even if there is nothing more definite. Already the behaviour towards cryptocurrency recently has changed a lot and I think slowly-slowly starting to enter our lives. If the price was stable we could see more changes, but even in the current position I believe we can achieve what we want.

[DeathAngel]

Any news of adoption by a major organisation is a good thing but I see so many stories like this that never get implemented.

Let’s hope they actually start accepting BTC in the near future.

[abojamal]

Rakuten, the biggest e-commerce store in Japan is most likely to introduce Bitcoin payments. The company is going through some major corporate restructuring in which their cryptocurrency business is becoming part of their Payments and Settlements business.

Article link: https://blockmanity.com/news/bitcoin/amazon-of-japan-rakuten-likely-to-introduce-bitcoin-payments/

If this news became true the payment would be using the BTC directly
Any third party without payment would be good
I think the Japanese proved that they were among the most willing to pay through the BTC .