E-commerce giant Rakuten is moving its cryptocurrency exchange to a new payments subsidiary.

Japanese e-commerce company Rakuten has announced a corporate restructuring and the creation of a new payments subsidiary that will include its cryptocurrency business, Cointelegraph Japan reported on January 21.

Rakuten, informally known as the “Japanese Amazon,” originally announced last August that it would reorganize its divisions to improve accountability and decision-making processes.

Now, the company has announced that it will rename its loyalty programs subsidiary, Spotlight Inc., to a new entity, Rakuten Payment, which will also operate its cryptocurrency exchange.

The Rakuten Payment service and other restructuring details are expected to launch by April 1, the company said in an accompanying press release on January 18.

Once launched, it will act as an umbrella for two operations: cryptocurrency exchange Everybody’s Bitcoin, which Rakuten also acquired last August, and prepaid card service Rakuten Edy.

The authorities explained in a press release:

“We have been preparing the Group reorganization through a corporate split to clarify responsibilities, improve management efficiency and optimize resource allocation, thereby further developing and expanding the Rakuten ecosystem and maximizing corporate value.”

Rakuten has been interested in the cryptocurrency space for several years. In 2015, it first decided to accept Bitcoin (BTC) payments on its platform.

The practical approach to the industry is the same as that of other large Japanese internet players such as SBI Group, which, in addition to its own stock exchange, also invests heavily in affiliated startups.

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