Source: Ambcrypto, originally published on .
Rakuten, Viber’s parent company, is planning to bring out Viber’s own cryptocurrency which is said to be named ‘Rakuten Coin’. This coin is due to be tested in Russia. Rakuten hopes that this advantage will give Viber what it needs to be able to beat; its biggest rival, WhatsApp. Viber was originally created in Israel and was bought by Rakuten in the year 2014.
The features of the app will remain the same wherein users will still be able to use messages, emojis and all other features being used previously. However, by using the Rakuten Coin, the admins of Viber’s ‘supergroups’ will be able to monetize the streams. This allows the platform to tap into Rakuten’s partner network, media business and e-commerce firms.
The coin is scheduled to be launched in Russia in the year 2019. Djamal Agaoua, CEO of Viber also stated that users would be able to send and trade Rakuten Coin against Euros, Dollars and Rubles. Viber will not be the first of its kind to enter the crypto world. Apps like Telegram, Line, and Kik have already done so.
Telegram, a popular messenger app in Russia has raised $1.6 billion from an ICO in the past, and they plan to use this in issuing ‘Gram Coin’. The investors of Telegram paid fiat money for the right to receive Gram coin once it is launched.
Rakuten is currently studying the Russian cryptocurrency legislation in order to find out whether or not a license needs to be obtained from the local regulator. The steps needed to be taken for the launch of Rakuten coin is also under discussion.
The Russian government has not been explicit so far on account of cryptocurrency regulations. Neither have they passed the bill on digital assets.
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