Japanese E-commerce Company Rakuten Launched a Cryptocurrency Exchange Rakuten Wallet

Rakuten Wallet Android App Launch in Japan

Now Rakuten Wallet is available as a mobile application for Android. The platform supports BTC, ETH, BCH. The iOS app should be released in the future, but the exact timing is still uncertain.

Rakuten stated that customer funds held by the subsidiary will be managed separately, under the supervision of its trust company Rakuten Trust and through savings accounts in Rakuten Bank.

The company also emphasizes that to ensure a higher level of security, user assets will be stored in cold wallets. To manage private keys, a multi-signature system will be used.

Fees, Security, and Background of Rakuten Wallet

According to Rakuten representatives, no commission is charged for transactions. However, Rakuten Wallet will charge 300 JYN (about $ 2.80) for outputting funds.

The Rakuten Wallet exchange is developed on the basis of the Everyday’s Bitcoin platform, which the Japanese corporation bought in August 2018 for $ 2.4 million.

We remind that the initial launch of the crypto exchange was supposed to take place in April, after it was postponed to June, but it took place only now.