Tokyo, March 2, 2020 - Rakuten Wallet, Inc., a consolidated subsidiary of Rakuten Group and operator of a crypto asset (virtual currency) exchange business, today announced that it will begin providing crypto asset (crypto currency) margin trading services (leverage trading) starting this spring. Users may now apply to open a dedicated crypto currency margin trading account ahead of the launch.
In addition to the Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH) spot trading services currently offered by Rakuten Wallet, users will also be able to trade in Litecoin (LTC) and Ripple (XRP) with the new service, and also perform up to double margin trading for five varieties of currency pairs: BTC/JPY, ETH/JPY, BCH/JPY, LTC/JPY and XRP/JPY. Asset margin trading will be available 24 hours a day, 365 days a year*1 through the service’s dedicated smartphone app*2, allowing users to trade wherever they are.
Interested customers may submit early account applications through the form found under the My Page section of each customer’s Rakuten Wallet spot trading accounts. Filling in the required details will allow users to easily open a margin trading account*3.
The schedule for the service’s launch is as follows:
・Monday, March 2, 2020: Early applications for dedicated crypto asset margin trading accounts begin.
・Spring 2020 (planned): Smartphone app and crypto asset margin trading service available for use.
*Rakuten Wallet is scheduled to register as a Type 1 Financial Instruments Business based on the Revised Financial Instruments and Exchange Law.
Rakuten Wallet began offering crypto currency spot trading services on August 19, 2019. A service that converts Rakuten Points (Rakuten Group’s point program) to crypto assets began on December 24 of the same year. This service was created in response to popular demand from experienced traders.
As the Rakuten Group’s virtual currency exchange business, Rakuten Wallet will continue to provide transaction services that customers can use safely and securely, and further expand its services by leveraging Group synergy.
*1 Excluding maintenance downtime periods.
*2 Smartphone app planned for launch this spring. To perform asset margin trading, customers will need to install a new app dedicated to asset margin trading in addition to the Rakuten Wallet spot trading smartphone app.
*3 Please be aware that there are preconditions to opening an account. These include the individual customer’s level of investment experience and their goals behind investing. A Rakuten Wallet spot trading account is required to open a dedicated asset margin account. A Rakuten Bank account is required to open a Rakuten Wallet account.
- Rakuten Wallet, Inc.
Rakuten Wallet to Provide Crypto Asset Margin Trading Services Starting in Spring 2020
Overview of Crypto Asset Margin Trading Services
URL for early account applications: https://www.rakuten-wallet.co.jp/service/leverage_app_wallet/ (Japanese Only)
Service launch: Spring 2020 (planned)
Early account applications began: Monday, March 2, 2020
Trading cryptocurrency pairs: BTC/JPY, ETH/JPY, BCH/JPY, LTC/JPY, XRP/JPY
Service details: Customers can perform up to double margin trading for each currency pair 24 hours a day, 365 days a year through Rakuten Wallet’s crypto asset margin trading app, allowing users to trade wherever they are. (*Does not include maintenance downtime periods)
Smartphone app: Available on Android and iOS (*Planned for launch in spring 2020)
About Rakuten Wallet
Rakuten Wallet, Inc. started a virtual currency exchange service on March 30, 2017. On September 7, 2017, Rakuten Wallet submitted an application for registration to be a “virtual currency exchange service provider” to the Kanto Local Finance Bureau, pursuant to Article 63-3 of the Payment Services Act. Rakuten Wallet completed registration as a “virtual currency exchange company” with the Kanto Local Finance Bureau, based on the Payment Services Act, on March 25, 2019. The company, formerly known as “everybody’s bitcoin Inc.,” changed its name to “Rakuten Wallet, Inc.” on March 1, 2019. Rakuten Wallet started accepting applications for accounts on April 15, 2019 for its crypto asset (virtual currency) trading service and started offering crypto asset (virtual currency) spot trading services on August 19, 2019.