Rakuten (Japanese Amazon) Subsidiary Approved as Virtual Currency Exchange Company

Rakuten, a Japanese e-commerce giant similar to Amazon, officially got its subsidiary cryptocurrency wallet, the Rakuten Wallet, registered and approved by Japan’s Financial Services Agency (JFSA). This has been confirmed by the company in a press release on March 25.

The Rakuten Wallet, formerly known as “Everybody’s Bitcoin,” is now fully legitimized and considered to be a virtual currency exchange in the eyes of Japanese regulators.

Rakuten acquired the “Everybody’s Bitcoin” exchange in August of last year for 265 million yen ($2.4 million), and has since made a series of changes to the exchange’s structure in the interest of having it registered and regulated as a virtual currency exchange by the JFSA.

Per the press release, the Everybody’s Bitcoin exchange will officially end its operations at the end of March, and will relaunch under the Rakuten Wallet name and operations.

Adding to this, the company said:

“Rakuten Wallet will contribute to the…

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