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QUICK HIT: Bitcoin Gets Major Boost With Rakuten Support

Posted on 3.16.2015

E-commerce destination Rakuten is giving a big boost to Bitcoin, announcing it will now accept payments in the virtual currency in the U.S.

Rakuten joins several other online retailers including Amazon and service provides such as Expedia in accepting Bitcoin. The e-commerce giant, which has essentially integrated with Bitcoin payment platform Bitnet for the offering, is launching in the U.S. but will extend support to Rakuten sites in Germany in Austria in the near future. Should all go well, Rakuten will presumably support the virtual currency in Japan (where most of its sales and profits originate).

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“Rakuten’s mission is to empower the world through the Internet,” commented Yaz Iida, President of Rakuten USA. “Not only can bitcoin support this vision by helping our merchants better compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions. This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our US marketplace.

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