Rakuten Launches Zero-Fee Crypto Exchange: Japan’s E-Commerce Giant Enters the Bitcoin Market

TL;DR

• Japanese e-commerce giant Rakuten officially launches its Rakuten Wallet crypto exchange on August 19, 2019
• Spot trading available for Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH) against the Japanese Yen
• Zero-fee trading model — no charges for account creation, buying, selling, or deposits
• Multisig cold wallet security with full smartphone app integration for Rakuten Bank users
• Move signals growing mainstream adoption of crypto by major global retailers

In a move that could accelerate cryptocurrency adoption across Asia, Rakuten — the Japanese e-commerce behemoth often called the “Amazon of Japan” — has officially launched its cryptocurrency exchange service. Rakuten Wallet went live on August 19, 2019, offering spot trading of Bitcoin, Ethereum, and Bitcoin Cash against the Japanese Yen through a dedicated smartphone application.

The launch represents a significant milestone for the cryptocurrency industry. Rakuten is not a startup looking to ride the crypto wave — it’s a $14.5 billion company with over 17,000 employees worldwide and $10 billion in annual revenue. When a company of this scale and reputation enters the crypto space, it sends a powerful signal about the maturation of digital asset markets.

Zero Fees, Maximum Accessibility

Perhaps the most striking feature of Rakuten Wallet is its pricing model: there are no fees. Period. According to the company’s official press release, there are no charges for opening or managing an account, purchasing or selling crypto assets, or depositing funds. This zero-fee approach stands in stark contrast to most major crypto exchanges, which typically charge trading fees ranging from 0.1% to 0.5% per transaction.

For users who already hold Rakuten Bank accounts, the onboarding process is seamless. Customers can open a Rakuten Wallet account simply by filling out an online application form with their existing bank credentials. The integration between Rakuten’s banking and crypto services eliminates one of the biggest friction points that has historically kept mainstream consumers away from cryptocurrency — the cumbersome process of funding exchange accounts through separate banking relationships.

Security Architecture

Rakuten Wallet employs a multisig-based cold wallet system for storing user funds. While the company uses the term “cold” to describe its storage solution, it’s worth noting that this refers to offline storage rather than user-controlled private keys. The funds are held by Rakuten, not by individual users — an important distinction for crypto purists who prioritize self-custody.

The exchange operates under Japan’s rigorous regulatory framework overseen by the Financial Services Agency (FSA). Japan has emerged as a global leader in cryptocurrency regulation since the Coincheck hack of January 2018, which resulted in the loss of approximately $530 million worth of NEM tokens. In response, Japan tightened its exchange licensing requirements and implemented comprehensive anti-money-laundering protocols that have since become a model for other jurisdictions.

The Everybody’s Bitcoin Acquisition

Rakuten’s entry into crypto didn’t happen overnight. The company acquired the Japanese exchange Everybody’s Bitcoin in August 2018 for approximately $2.4 million, laying the groundwork for what would eventually become Rakuten Wallet. The original plan called for a launch in April 2019, but regulatory requirements and technical development pushed the timeline back by several months.

The acquisition strategy mirrors a broader trend of established tech companies entering crypto through strategic purchases rather than building from scratch. By acquiring an already-licensed exchange, Rakuten was able to navigate Japan’s complex regulatory landscape more efficiently than if it had attempted to secure an FSA license from scratch.

Rakuten’s Blockchain History

This crypto exchange launch is far from Rakuten’s first foray into blockchain technology. The company established the Rakuten Blockchain Lab in 2016 and made an early investment in Bitnet, a wallet and payments software company, back in 2014. Rakuten has also been accepting Bitcoin payments on its American e-commerce platform through integration with the Bitnet payment portal.

The company’s name itself — “Rakuten” means “optimism” in Japanese — seems fitting for a business that has been steadily investing in the future of digital payments and blockchain technology for over five years.

Market Context

Bitcoin trades at approximately $10,231 as of August 17, with Ethereum at $185.69 and Bitcoin Cash at $307.28, according to CoinMarketCap data. The broader cryptocurrency market has been experiencing a choppy week, with most major assets declining between 3% and 15% over the past seven days. Despite the short-term volatility, the entry of a major e-commerce player like Rakuten into the exchange space provides a structural demand catalyst that could support prices over the medium term.

Japan has consistently ranked among the top countries for cryptocurrency trading volume and adoption. With the FSA providing a clear and comprehensive regulatory framework, Japanese exchanges operate with a level of legitimacy that has attracted both domestic and international users. Rakuten Wallet’s entry into this competitive market — with its zero-fee model and integration into one of Japan’s most widely used financial ecosystems — could disrupt the dynamics of Japanese crypto trading.

Why This Matters

Rakuten’s crypto exchange launch matters because it represents the convergence of mainstream e-commerce and digital assets. When the “Amazon of Japan” decides to build a cryptocurrency exchange, it’s not a speculative bet on blockchain technology — it’s a calculated business decision based on the belief that crypto assets will become a meaningful part of the global financial system.

For Bitcoin and the broader cryptocurrency market, each new mainstream institution that enters the space adds legitimacy, liquidity, and user adoption. Rakuten’s 100+ million registered users worldwide represent a massive potential on-ramp for crypto adoption that simply didn’t exist before. Whether those users will embrace cryptocurrency trading remains an open question, but the infrastructure is now in place to find out.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry high risk. Always do your own research before making investment decisions.