Rakuten Wallet, Inc., a consolidated subsidiary of Rakuten Group and operator of a crypto asset (virtual currency) exchange business, announced on Tuesday it has launched a new service that enables users to convert Rakuten Super Points from Rakuten Group’s loyalty points program to crypto assets through the Rakuten Wallet app, which currently offers crypto asset spot trading services.
According to Rakuten Wallet, the service allows Rakuten users in Japan who have a Rakuten Wallet account and have earned Rakuten Super Points to convert their loyalty points to crypto assets available on Rakuten Wallet: Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Rakuten Super Points can be exchanged from amounts of 100 Rakuten Super Points.
“To use this service, customers can log in to the app, and, after choosing ‘Points Exchange,’ select the target exchange currency and amount. One Rakuten Super Point is equivalent to one yen when converted to crypto assets, and when the exchange is complete it will be reflected in the transaction history on the customer’s smartphone app.”
Rakuten Wallet then noted that through the launch of the new service, it 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 service also increases the range of uses for Rakuten Super Points across the Rakuten Group’s ecosystem of services, making the Rakuten loyalty membership program even more attractive and convenient. Rakuten Wallet added:
“Rakuten Wallet, as the Rakuten Group’s virtual currency exchange business, will continue to provide transaction services that customers can use safely and securely, and further expand its services by leveraging Group synergy.”