Rakuten, the Japanese e-commerce giant, has launched a new service for cryptoheads.
The company recently announced that it’s cryptocurrency exchange subsidiary, Rakuten Wallet, has enabled Rakuten users to convert loyalty points to crypto assets, specifically bitcoin (BTC), Ethereum (ETH), and bitcoin cash (BCH).
Only Rakuten Super Points are allowed to be exchanged though – Limited Time Points are not eligible – and users will need to trade at least 100 Super Points per transaction (single point units over 100 are cool). One Rakuten Super Point is equivalent to one JPY when converted into crypto.
You cannot, however, exchange crypto for Super Points.
At any rate, the company hopes that the move would make it easier for consumers to get into crypto trading, saying:
Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience.
The new service, they say, also increases the uses of the company’s loyalty points, thereby “making the Rakuten loyalty membership program even more attractive and convenient.”
Photo: PriceMinister