Rakuten May Add Crypto Support in Updated App

This info was found in the company's financial statements for 2018 by the journalists
18 February 2019   750

The Japanese online retail corporation Rakuten can implement support for cryptocurrency in the updated version of its payment application, according to the company's financial statements for 2018, which is referred to by Cointelegraph.

The submitted documents state that the new version of the Rakuten Pay application will be released on March 18 and will support “all payment solutions embedded in one platform”. Rakuten has been accepting Bitcoin payments through its US portal since March 2015.

In January, Rakuten revealed that Everybody’s Bitcoin, which had been bought earlier, was included in a new payment unit. Rakuten acquired Everybody's Bitcoin in August 2018 for $ 2.4 million. Representatives of the company then stated that they were considering joining the cryptocurrency trading industry because they believe in “the role of cryptocurrency payments in e-commerce and offline retail as well as peer-to-peer payments in the future ". 

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.