Odaily Frontline | Online retail giant Rakuten now supports cryptocurrency top-ups and payments

This article comes fromBitcoin.com, original author: Jamie Redman

Odaily Translator | Nian Yin Si Tang

, original author: Jamie Redman

Odaily Translator | Nian Yin Si Tang

Rakuten Inc., dubbed the "Amazon of Japan," has announced the integration of its crypto platform with its e-payments business, and customers can now top up Rakuten Pay accounts with BTC, ETH and BCH. To celebrate the launch of the crypto service, Rakuten is also offering point rewards via crypto assets to those who utilize “Rakuten Cash.”

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Cryptocurrency can be used to pay for Rakuten goods and services, as well as stores like 7-Eleven, Familymart and McDonald's

The Tokyo-based major Japanese e-commerce and online retail company is now allowing cryptocurrency users to top up Rakuten Cash using the company’s Rakuten Pay service. The crypto-backed payment service offers customers access to a wide range of Rakuten services and products, including the company's travel service, Kobo e-books and mobile businesses.

Additionally, users can top up the Rakuten app via BCH, BTC, or ETH to purchase items at stores like Familymart, McDonald's, 7-Eleven, and Mister Donut. However, the service is currently only available to users who use its standard encrypted wallet, and users of the encrypted margin trading application Wallet Pro are temporarily unavailable.

“This news means a lot to Japan,” one user explained on Twitter, “You can now pay with crypto at McDonald’s and 7-11 — and probably thousands of other stores.”

Rakuten’s statement detailed that cryptocurrency users can also top up funds with digital assets through its Rakuten Cash purchase feature. However, users will also need to utilize Rakuten's encrypted wallet in order to access Rakuten Cash via digital currency. Additionally, the company is offering point rewards to customers who use the Rakuten Crypto Cash purchase feature.

Rakuten’s announcement detailed that crypto users will also be able to top up with digital assets through their own Rakuten Cash feature. However, users will also need to utilize Rakuten’s crypto wallet in order to access Rakuten Cash via digital currency. Additionally, the company is offering point rewards to customers who use the Rakuten Cash purchase feature via cryptocurrency.

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Rakuten Group Wants to Provide Easy Crypto Asset Management

The official announcement also states that the minimum top-up amount is 1,000 yen ($10), with a one-time cap of around 100,000 yen ($1,000) per month. Through the Rakuten Pay app and the company's encrypted wallet, users can complete top-ups 24 hours a day, 7 days a week. Rakuten says there is no fee for the switch, but "requires opening a physical transaction account using Rakuten Wallet and installing a smartphone app dedicated to transactions."

Rakuten further added: "(The company) will utilize the synergy of the Rakuten Group to provide convenient and profitable cryptocurrency asset management and new usage methods to improve customer satisfaction."