The $12.5 billion Japanese giant Rakuten has bought a crypto exchange located in Japan for $2.4 million dollars. The acquisition of Everybody’s Bitcoin provides entry into the cryptocurrency world and will propel the company to use crypto as digital payment in the future. Rakuten published a statement about the recent acquisition saying, “the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future.”
More and more conglomerates and Fortune 500 companies continue to acquire, joint-venture and invest in blockchain and crypto related companies. The technological capabilities of using blockchain and accepting digital currency allows companies to grow without borders. Many powerful companies such as Rakuten has also announced that they plan to launch a cryptocurrency for users to utilize when paying for their services. We expect more international companies to launch their tokenized coins as companies see the potential of cryptocurrency.