Rakuten applies for US banking charter

Rakuten, the largest e-commerce company in Japan, has applied for a charter for an industrial credit company in the state of Utah.

The company – known as “Amazon of Japan” – operates several consumer-focused retail and fintech companies, including the US premium brand Ebates.

While the American Bankers Association (ABA) remains a strong proponent of the charter choice and generally does not comment on individual charter applications, the association expressed …

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