Japan’s equivalent to Amazon, Rakuten has announced that its users will now be able to convert Rakuten Super Points to cryptocurrencies. Rakuten is the largest e-commerce site in Japan and is among the world’s largest by sales.
Rakuten aims to reduce the obstacles of entry to the crypto market.
According to the announcement, a user needs to convert a minimum of 100 super points into cryptocurrencies. The e-commerce giant aims to reduce the barriers of entry to crypto trading by providing an easier way to access the market. Users who have an account with Rakuten Wallet can convert loyalty points to cryptocurrencies via exchange’s app.
Only a limited amount of loyalty points can be exchanged.
As per the announcement, there are limits on the number of Super Points that can be exchanged for bitcoin, bitcoin cash, and ether. Only a certain amount of points can be converted per transaction and per month. Diamond members of the site are allowed to convert 50,000 points, while other members can only convert 30,000 points per transaction. Rakuten wallet is a licensed crypto exchange in Japan registered with Kanto Local Finance Bureau.