Viber Contemplates Launching Crypto in Russia
Rakuten, Viber’s parent company, has been examining Russian laws regarding the use of cryptocurrencies with plans of fully launching its own next year, according to reports by Viber’s CEO.
Rakuten’s currency, the Rakuten Coin, is based on a customer reward system. Djamel Agauoa said that the company is designing its currency, which will be backed by the company’s whole system, and expects a possibility of launching the digital asset in Russia next year.
Users will be able to trade Rakuten coins on the messenger app. All assets will be located in Viber’s unique wallet, and can be traded for physical currencies like the U.S, dollar. Experts at the company are currently examining the regulations and laws Russia has implemented to ensure the efficiency of its operation.
According to figureheads at the company, users will soon be able to undergo transactions, like sending and trading the Rakuten coin, with three different currencies, the U.S. dollar, the Russian ruble as well as euros. Confirmation of digital currency exchanges regarding rubles as well as bank transfers will have to wait until full inspections of Russian laws are complete.
Plans to launch Viber’s own market platform are also underway, and predicted to hit Russia during the end of 2018.