Viber's Plan to Beat WhatsApp: Its Personal Cryptocurrency in Russia –

Viber's Plan to Beat WhatsApp: Its Own Cryptocurrency in Russia -

Viber desires to launch its personal cryptocurrency in Russia for its new companies platform in an effort to beat its greatest rival, WhatsApp.

Viber Considers Russia for Its Cryptocurrency Launch

The favored messaging app Viber is the daughter firm of Rakuten, also referred to as the ‘Amazon’ of Japan. In reality, the digital commerce and Web large is no stranger to cryptocurrencies — because it was one of many first corporations on this planet to settle for Bitcoin in 2015.

Rakuten introduced it should launch its personal Rakuten Coin in February 2018 primarily based on its present loyalty program and tailor-made to the Viber platform. Specifically, it should function the foreign money for its Viber Neighborhood service or ‘supergroups’ that may assist a limitless variety of customers.


Whereas the members in these teams work together with messages, emojis, and many others., group admins will be capable to monetize the streams utilizing Rakuten Coin — enabling the platform to faucet into Rakuten’s in depth community of companions, main e-commerce, and media companies.

In accordance to Russian Information Company Tass, Russia is being thought-about because the testbed for Viber’s cryptocurrency-powered enterprise mannequin — the place the messaging app has 45 million customers.

“Our mom firm is creating Rakuten Coin: cryptocurrency, which is supported by your entire Rakuten ecosystem,” Viber CEO Djamel Agaoua defined. “The cryptocurrency could be launched in Russia in 2019.”

Agaoua added:

Very quickly you’ll be capable to ship some Rakuten Cash and to commerce Rakuten Cash towards rubles, and euros.

Watch Out, What’s App

Final yr, Viber CEO Viber Djamel Agaoua first hinted at this transfer to develop its consumer base by revealing plans to make Viber perform “extra like a platform than a single-purpose app.” Rakuten Coin would play a key position on this transformation by enabling customers to monetize their interactions, purchase, promote and commerce the digital tokens utilizing the Viber Pockets, in addition to pay for the companies supplied by means of the app.

“Customers will be capable to open a chat window with pals, have a look at eating places, resolve the place to go, and make a reservation – all with out exiting Viber,” Agaoua stated.

The e-commerce platform is anticipated to launch in Russia in This autumn 2018, in accordance with Head of Viber e-commerce Zephrin Lasker.

The elevated performance might give the corporate a bonus over rivals like Telegram and the Fb-owned WhatsApp — with the latter being the hottest messaging app, favored by 59 p.c of Russia’s smartphone customers.

Rakuten is at present trying into Russia’s creating authorized framework for cryptocurrencies — which is anticipated to take form later this yr after quite a few revisions“The cryptocurrency alternate for rubles and transfers to financial institution accounts will rely upon Russian legal guidelines,” added Agaoua. 

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