Point Bitcoin by Rakuten Point Club launched

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Rakuten Inc on Thursday announced the launch of Point Bitcoin by Rakuten Point Club, a service which enables users to experience trading Bitcoin, a type of crypto asset (virtual currency), using Rakuten Points (1), Rakuten’s loyalty program. The new service is easily accessible to all Rakuten members in Japan with a Rakuten ID and Rakuten Points.

Point Bitcoin by Rakuten Point Club provides two points of entry to users: Through the Rakuten Point Club app (2) or through the dedicated Point Bitcoin by Rakuten Point Club webpage on the Rakuten Point Club official site. Users simply access the service through the app or webpage, set the number of points they wish to invest, and start using the service. The selected number of Rakuten Points automatically fluctuates in tandem with the trading price of Bitcoin, which is regularly updated on a chart on the service webpage (3).

Trading is possible with a quantity of 100 or more Rakuten Points and withdrawals can be made in amounts as small as one point. In addition to the online shopping mall Rakuten Ichiba and other online services provided by the Rakuten Group, Rakuten Points can also be used at brick-and-mortar Rakuten Point Card-affiliated businesses across Japan, including convenience stores, pharmacies and restaurants.

Rakuten reached a new milestone when the total cumulative number of Rakuten Points issued exceeded two trillion in September 2020. Rakuten also launched the Easy Point Investment by Rakuten Point Club service in October 2018, which enabled members to invest their Rakuten Points by linking them with the base value of investment trusts available through Rakuten Securities, even without a brokerage account. The number of service users reached three million by November 2020.

The launch of Point Bitcoin by Rakuten Point Club gives members an even wider array of options for making use of their points. It also provides those without experience in investing or Bitcoin trading with an opportunity to make their first foray into the world of asset management.

1 Only regular points can used with this service.

2 If “Point Bitcoin by Rakuten Point Club” does not display on your Rakuten Point Club app menu screen, please update your Rakuten Point Club app to the latest version.

3 While users can gain or lose Rakuten Points, they do not actually receive Bitcoins through this service.

Source: Rakuten Inc