Amazon’s Japanese rival Rakuten announced on Tuesday it plans to launch a new cryptocurrency called Rakuten Coin based on the organisation’s blockchain technology it acquired when it purchased the bitcoin wallet startup, Bitnet. Rakuten’s CEO Hiroshi Mikitani made the announcement on stage at the Mobile World Congress in Barcelona, where he described Rakuten Coin as a “borderless” currency. An official launch date is yet to be confirmed.

Stay updated here with how the cryptocurrency is tracking.

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