Rakuten Wallet, a subsidiary of the Japanese Rakuten Group and an operator of cryptocurrency exchange services, has officially launched its mobile application for crypto asset trading. Initially released on Android, the app is now available for iOS users, offering a streamlined platform for managing digital currencies.
The service emphasizes security and reliability. Customer funds are held separately from the company’s operational accounts and managed through a trust account provided by Rakuten Trust. These assets are further safeguarded via a Rakuten Bank deposit account.
To enhance security, Rakuten Wallet employs multiple protective measures. All customer crypto assets are stored in cold wallets—offline environments isolated from the internet. Private keys are managed using a multi-signature scheme, and users are required to complete two-step verification for login, withdrawals, and asset transfers.
Through the mobile app, customers can perform various crypto transactions 24/7, including deposits, withdrawals, and trading. The application also offers tools for effective asset management, such as real-time chart viewing and balance tracking.
Currently, the platform supports three major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Account opening, management, and crypto trading are free of charge. Existing Rakuten Bank clients can easily open a Rakuten Wallet account by filling out an online application.
Looking ahead, Rakuten Wallet plans to continue expanding its service offerings to provide more secure and user-friendly trading solutions.
Service Launch Timeline
The Rakuten Wallet app was officially launched on Monday, August 19, 2019. The iOS version was released ahead of schedule on August 22, following the initial Android rollout.
All operations—including deposits, withdrawals, and account management—must be performed through the mobile app, except during scheduled maintenance periods.
Supported Cryptocurrencies
Users can trade and hold three types of crypto assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
This selection offers a solid foundation for both new and experienced traders looking to engage with major digital currencies.
Security Measures
Rakuten Wallet places a strong emphasis on protecting user assets through the following methods:
- Segregated Funds: Customer funds are stored separately from corporate assets in trust accounts managed by Rakken Trust.
- Cold Storage: All cryptocurrencies are held in cold wallets, which are not connected to the internet, significantly reducing exposure to hacking attempts.
- Two-Step Verification: Login, withdrawal, and transfer actions require two-factor authentication, preventing unauthorized account access.
These measures ensure that users can trade with confidence in a secure environment.
Fee Structure
Rakuten Wallet offers a competitive and transparent pricing model:
- Account Opening: Free
- Account Management: Free
- Cryptocurrency Trading: Free
- JPY Deposits: Free
- JPY Withdrawals: ¥300
- Crypto Deposits: Free
Crypto Withdrawals:
- BTC: 0.001
- ETH: 0.01
- BCH: 0.01
This straightforward fee system makes it easier for users to manage costs while trading.
Mobile App Features
The Rakuten Wallet mobile app allows users to:
- Trade and monitor crypto assets in real time
- Deposit and withdraw Japanese yen and cryptocurrencies
- View live price charts and market data
- Manage account settings and security options
The app is designed for ease of use, helping both beginners and advanced users navigate the world of crypto trading.
Background of Rakuten Wallet
Rakuten Wallet began its journey in the virtual currency space by launching exchange services in March 2017. Later that year, it applied for registration as a Virtual Currency Exchange Service provider under Japan’s Payment Services Act.
The company was officially registered by the Kanto Local Finance Bureau on March 25, 2019, and began accepting account applications starting April 15. Full trading services went live on August 19, 2019.
Rakuten Wallet remains committed to regulatory compliance and user protection as it continues to evolve its platform.
Frequently Asked Questions
What cryptocurrencies does Rakuten Wallet support?
Rakuten Wallet currently supports Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). These can be traded, deposited, and withdrawn through the mobile app.
Is two-factor authentication mandatory?
Yes, two-step verification is required for logging in and performing security-sensitive actions like withdrawals and transferring assets.
Are there any fees for opening a Rakuten Wallet account?
No, account opening and management are completely free. Trading is also free, though withdrawals in Japanese yen incur a small fee.
How does Rakuten Wallet protect user assets?
The platform uses cold storage for crypto assets, segregates user funds in trust accounts, and enforces two-factor authentication for enhanced security.
Can I use the app outside of Japan?
While the app is accessible worldwide, service availability may depend on local regulations. It’s best to check whether crypto trading is permitted in your region.
Where can I learn more about secure crypto trading?
👉 Explore secure trading platforms for additional tools and educational content tailored to cryptocurrency users.