Rakuten Wallet now registered as a Virtual Currency Exchange in Japan

Rakuten Wallet, a consolidated subsidiary of Rakuten, which operates a virtual currency exchange service, announced today that registration with the Kanto Local Finance Bureau in Japan has been completed as a “virtual currency exchange service provider” based on the Payment Services Act.

Rakuten Wallet started a virtual currency exchange service on March 30, 2017, and submitted an application for registration to be a “virtual currency exchange service provider” under the Payment Services Act to the Kanto Local Finance Bureau on September 7 of the same year, and continued operating as a “deemed virtual currency exchange service provider”.

In response to a business improvement order issued by the Kanto Local Finance Bureau on April 25, 2018, the company has officially restructured its management system, including formulating a business improvement plan and strengthening its business management and internal control systems, and could register as a “virtual currency exchange services provider”.

In addition, the company changed its trading name from “everybody’s bitcoin Inc.” to “Rakuten Wallet, Inc.” on March 1, 2019, and will stop its current service at the end of March. Users can open new accounts for a new service from April.

As a virtual currency exchange service provider, Rakuten Wallet aims to support the sound development of the industry, and provide a safe and trustworthy user experience by further strengthening its security and service offerings.