thecryptobasic.com
Rakuten, the largest e-commerce platform in Japan, is expanding its crypto services by adding $XRP to the Rakuten Wallet.
Starting April 15, the move will allow users to both trade and use $XRP for payments, bringing the asset into a highly regulated market. This introduces $XRP to a wide audience through Rakuten’s ecosystem, including its popular payment platform.
Key Points
- Rakuten Wallet will list $XRP alongside $XLM, $DOGE, $SHIB, and $TON for spot trading starting April 15.
- The integration gives $XRP access to 44 million Rakuten Pay users.
- Users can convert more than 3 trillion Rakuten Points worth $23 billion directly into $XRP.
- $XRP can be used for payments at over 5 million merchant locations through Rakuten Cash and Rakuten Pay.
- A promotional campaign offers users up to JPY 100,000 in $XRP rewards to boost adoption.
Rakuten Expands Crypto Offering with $XRP Integration
Rakuten revealed the latest development in a recent press release, confirming that it plans to add $XRP as both a tradable asset and a payment option from April 15. Alongside $XRP, Rakuten Wallet will list Stellar ($XLM), Dogecoin ($DOGE), Shiba Inu ($SHIB), and Toncoin ($TON) for spot trading.
Notably, this move builds on Rakuten’s earlier support for $XRP, including margin trading introduced in spring 2020, where users could trade pairs like $XRP/JPY with up to 2x leverage.
Rakuten Wallet operates under strict rules as an FSA-licensed platform and a member of the JVCEA, showing that this rollout follows Japan’s clear crypto regulations.
Introducing $XRP to 44M Users
Rakuten plans to bring $XRP to a wide audience through its payment system. The Rakuten Pay app alone has 44 million users, and this places $XRP in front of everyday consumers, not just crypto traders.
Across its ecosystem, Rakuten has over 100 million member IDs in Japan, while its global reach extends to a range of 1.7 to 2 billion users across more than 70 services in over 30 countries.
Interestingly, one major feature will allow users to convert Rakuten Points directly into $XRP. The company has issued more than 3 trillion points, worth about $23 billion USD, creating a large pool of value that can now move into crypto. For context, Rakuten issued around 620 billion points in 2022.
Users can also fund Rakuten Cash, the platform’s e-money service, using $XRP. This makes it easier to use crypto for daily spending. Rakuten already introduced a similar feature in 2021, when it allowed users to charge Rakuten Cash with Bitcoin, Ethereum, and Bitcoin Cash.
Boosting $XRP Real-World Use Across 5M Merchants
This integration gives $XRP a use case in everyday payments across Japan. Users can spend funds through Rakuten Cash at more than 5 million merchant locations, including large retail stores and convenience shops.
Rakuten’s ecosystem supports large-scale activity, with annual e-commerce gross merchandise value reaching about 5.6 trillion yen. The addition of $XRP will help connect crypto with one of the biggest consumer markets in Japan.
Further, Rakuten Bank has passed 17 million accounts, and the broader ecosystem links shopping, banking, and payments under one account system. This could allow users to move $XRP easily between trading, rewards, and spending.
To support the launch, Rakuten Wallet will run a campaign where users can earn up to JPY 100,000 (about $670–$700 USD) in $XRP rewards through trading. This is expected to encourage more users to try the new feature early.