Copy link
Increase text size
Decrease text size
Link copied

Rakuten allows customers to convert loyalty points into crypto

Fri, 27 Dec 2019, 11:21 am UTC

Japanese retail giant Rakuten is now allowing customers to convert their Rakuten Group’s loyalty points program to crypto assets.

In a press release dated Dec. 24, Rakuten Wallet, a cryptocurrency exchange operator and a subsidiary of Rakuten, announced the launch of a new service that would enable customers to convert Rakuten Super Points into crypto assets via its app.

The new service will allow Rakuten users in Japan with a Rakuten Wallet account to convert their loyalty points into three crypto assets – Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Crypto assets could not be converted into Rakuten Super Points.

“Through the launch of the new service, 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,” Rakuten Wallet said.

Users need to have a minimum of 100 Rakuten Super Points to use the service. Also, there are restrictions on the number of Rakuten Super Points that can be exchanged per transaction and per month.

“Number of points that can be converted in one transaction: 50,000 Rakuten Super Points for Diamond members, 30,000 Rakuten Super Points for other members,” the release said. “Number of points that can be converted per month: 500,000 Rakuten Super Points for Diamond members, 100,000 Rakuten Super Points for other members.”

Rakuten acquired crypto exchange Everybody’s Bitcoin in August 2018 for 265 million yen. Later renamed as “Rakuten Wallet,” the crypto exchange launched spot trading service and its Android app in August this year.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,241.51 (+6.77%)
  • Ethereum (ETH) $164.51 (+14.70%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $252.01 (+8.99%)
  • Bitcoin SV (BSV) $190.89 (+9.69%)
  • Bitcoin (BTC) $7,241.51 (+6.77%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft