Rakuten Wallet and CALIVERSE to Collaborate on Web3 and Metaverse Business Expansion

Tokyo, August 1, 2024 – Rakuten Wallet, Inc., a Rakuten Group company and operator of a crypto asset (virtual currency) exchange business, today announced that it has signed a Memorandum of Understanding with CALIVERSE Inc., a South Korean metaverse development company that belongs to the Lotte Group, to form a strategic partnership in the Web3 space. The two companies will actively explore opportunities for collaboration and cooperation in Web3 services such as gaming, NFT sales, shopping and live artist events within the metaverse.

Rakuten Wallet, the crypto asset exchange arm of the Rakuten Group, offers spot and margin trading of crypto assets as both a crypto asset exchange operator and a financial instruments business operator. Since 2023, the company has gradually expanded into the Web3 space and plans to launch new Web3 services in 2024. These services will feature integrated management of digital assets, including crypto assets and NFTs, through a smartphone app, connectivity to Web3-oriented services from other providers, and seamless integration with Rakuten Wallet's existing crypto asset trading platform.

CALIVERSE Inc. is enhancing its collaboration with Web3 services centered around its metaverse platform, "CALIVERSE," to create an immersive next-generation metaverse experience powered by a high-precision 3D engine. This advanced metaverse allows users to explore a virtual world that feels real, featuring detailed cityscapes with buildings and shops, customizable high-definition avatars, and dynamic K-POP concerts or EDM stages generated through real-time AI synthesis of live-action and graphics.

Comment from Kim Dong-Kyu, CEO of CALIVERSE
With its focus on user creation, Web3 is at the heart of the platform for the various services provided by CALIVERSE. We are thrilled to partner with Rakuten Wallet, whose distinctive features make it easy for anyone to enter the world of Web3.

Comment from Tatsuya Yamada, President of Rakuten Wallet
As a next-generation metaverse platform, CALIVERSE consistently delivers new values and experiences that surpass customer expectations in its virtual space. By enhancing our collaboration with Rakuten Wallet's upcoming Web3 service, we aim to co-create numerous services and provide customers with entirely new experiences and values.

Rakuten Wallet aims to maximize customers' financial well-being by continuing to leverage the synergies of the Rakuten Group. Rakuten Wallet will provide convenient and advantageous ways to manage and utilize cryptocurrencies, helping to boost domestic cryptocurrency transactions and enhance customer satisfaction.

About CALIVERSE (as of August 1, 2024)

About Rakuten Wallet
Rakuten Wallet, Inc. joined the Rakuten Group in October 2018 and has provided services as a cryptocurrency exchange operator since August 2019, having completed registration as a virtual currency exchange service provider in March 2019 and registered as an electronic payment services provider in July 2019. Additionally, in May 2020, the company was registered with the Kanto Local Finance Bureau as a Type I Financial Instruments Business Operator under the Financial Instruments and Exchange Act.
https://www.rakuten-wallet.co.jp/

Company name: Rakuten Wallet, Inc. (Official site)
Cryptocurrency exchange operator: Kanto Local Finance Bureau Director, No. 00015
Financial instruments business operator: Kanto Local Finance Bureau Director (Kinsho) No. 3190
Affiliated association: Japan Virtual and Crypto assets Exchange Association (JVCEA)