Retail Giant Rakuten Enables Bitcoin Payments for US Customers

The Japanese e-commerce giant has integrated with payment processor Bitnet, enabling customers based in the United States to pay with bitcoin.

AccessTimeIconMar 17, 2015 at 10:59 a.m. UTC
Updated Aug 18, 2021 at 3:45 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Japanese e-commerce giant Rakuten has integrated its US site with bitcoin payment processor Bitnet, enabling customers in America to pay with the digital currency.

Often considered a rival to Amazon, Rakuten has also confirmed plans to roll out bitcoin integration to both its German and Austrian e-commerce sites.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Yaz Iida, president of Rakuten USA, said the company's mission was to "empower the world through the Internet". He added:

    "Not only can bitcoin support this vision by helping our merchants to compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions."

    Speaking about the integration, John McDonnell, co-founder and CEO at Bitnet, said that they were excited to join with Rakuten in helping both merchants and shoppers reap the benefits of this new technology.

    He added: "Rakuten's global marketplaces are great examples of how digital currencies can impact global commerce."

    Interest in bitcoin

    The news comes after Rakuten's CEO, Hiroshi Mikitani, one of Japan's wealthiest individuals, announced his company was considering accepting bitcoin just last month.

    Rakuten is not new to the bitcoin space. The Wall Street Journal previously reported that the e-commerce giant had formed a department to study digital currencies and had invested in US-based bitcoin ventures such as Bitnet.

    The Tokyo-based company employs over 14,000 people and operates 40 businesses worldwide. The company is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania.

    In Japan it operates a bank, an insurance company and even a professional baseball team.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.