Japanese E-Commerce Giant Rakuten Buys a Bitcoin Exchange40.36

Japanese retail conglomerate, Rakuten, has announced the purchase of Everybody’s Bitcoin Inc., an unlicensed cryptocurrency exchange platform in the country. The acquisition follows a history of past forays into the emerging industry by the e-commerce behemoth.

According to a press release issued on Rakuten’s website on Friday (August 31, 2018), the company announced that the purchase would be facilitated via its subsidiary firm, Rakuten Card Co., Ltd. The statement also revealed that the deal would be based on a stock purchase agreement between its subsidiary and Traders Investment Inc., the parent company of the Bitcoin exchange platform.

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