Japan’s E-Commerce Giant Ratuken Launches Trading Service for BTC, ETH, and BCH

Ratuken Wallet, Inc., a consolidated subsidiary of Japan's Rakuten Group, announced on Monday (August 19) that it has launched a new mobile app (initially, only for iOS) that offers a spot trading service for cryptocurrencies.

Ratuken's press release says that Ratuken Wallet "separates money deposited by customers (customer assets) from the company's own funds, managing the assets (trust maintenance) in trust accounts provided by Rakuten Trust Co., Ltd., the trust company of Rakuten Group. Rakuten Trust manages those trust assets through Rakuten Bank, Ltd. savings accounts."

To provide additional safety for customers' funds, all crypto owned by customers is stored in multi-sig cold wallets. And finally, two-factor authentication (2FA) is mandatory "when logging in, withdrawing money and withdrawing assets."

Ratuken Wallet currently supports three cryptoassets: Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH).

There are no fees for "opening or managing an account, purchasing or selling crypto assets, or depositing money." However, there is a JPY 300 fee for withdrawing Japanese Yen and there are small fees for withdrawal of cryptoassets (Bitcoin: 0.001 BTC; Ether: 0.01 ETH; Bitcoin Cash: 0.01 BCH).

As for the iOS version of the app, the company plans to make an announcement about its release in early September.

Featured Image Courtesy of Ratuken Group