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March 17, 2015

Rakuten to ’empower the world’ by accepting Bitcoin

Rakuten will integrate Bitnet and enable customers to pay using bitcoin.

By James Nunns

Rakuten has announced that it is planning to enable bitcoin payments for customers.

This capability will come after Rakuten integrates Bitnet’s payment processing platform into a number of its marketplaces.

With the integration of Bitnet, Rakuten will become the largest ecommerce company so far to begin accepting bitcoin as a payment currency.

Rakuten believes that by using bitcoin its customers will experience enhanced security, privacy, and convenience.

Dr. Christian Macht, CSO for Rakuten Europe, said: "Rakuten’s mission is to empower the world through the Internet."

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

"This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our marketplaces in Germany and Austria."

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Rakuten also believes that merchants will see benefits from using the digital currency such as no border fees, no price volatility, no fraud, risk or chargebacks.

John McDonnell, Co-Founder & CEO, Bitnet, said: "Rakuten’s global marketplaces are great examples of how digital currencies can impact global commerce. We’re excited to join with Rakuten in helping both merchants and shoppers reap the benefits of this new technology."

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