Japanese e-commerce giant Rakuten has received a new government license for the provision of “virtual currency exchange” services.

In a press release on March 26, Rakuten said that its consolidated subsidiary, Rakuten Wallet, which runs a cryptocurrency exchange service, had successfully “completed” its latest registration with the Ministry of Finance’s Kanto Local Finance Bureau (KLFB) in accordance with Japan’s Payment Services Act.

The news was also made public by Japan’s financial regulator, the Financial Service Agency (FSA) a day earlier.

Rakuten Wallet originally began its crypto services back in 2017, and had first applied for the relevant license then. After KLFB issued a business improvement order in April last year, the company has since restructured its management system, and beefed up its business management and internal control systems in order to register as a “virtual currency exchange services provider”.

Rakuten Wallet also changed its name from “everybody’s bitcoin Inc.” since March 1 this year. It will stop offering its existing services at the end of March to offer new services from April. Parent company Rakuten had acquired everybody’s bitcoin Inc. for $2.4 million in August 2018.

Separately, FSA has granted a license to an exchange named DeCurret, approving it to provide spot trading in four cryptocurrencies beginning April 16. Earlier in January, FSA had granted a license to Japanese crypto exchange Coincheck as well, the same exchange which suffered $530 million in losses from being hacked a year earlier.

To date, the total number of FSA-issued licences for crypto exchanges in Japan now stands at 19.