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As institutional interest in $XRP continues to grow, the latest news comes from Japan.
Accordingly, Rakuten, one of Japan’s leading payment platforms, announced that it has added support for $XRP payments.
Rakuten Wallet, operated by Japan’s largest e-commerce company, has made $XRP available as a spot trading and payment asset.
Users can now use their points to buy $XRP and spend it at various participating merchants across Japan.
According to the announcement, this integration is expected to allow Rakuten users to convert points worth approximately 3 trillion yen into $XRP.
The converted $XRP can be used to make payments at over 5 million merchants in Japan via Rakuten Pay.
Ripple Labs Head of Ecosystem Growth, Tatsuya Korogi, stated, “Rakuten is one of the most trusted consumer brands in Japan. The integration of $XRP into its loyalty and payment infrastructure demonstrates the direction of digital asset adoption.”
Rakuten has over 100 million members and is reported to have reached a gross transaction volume of approximately $40 billion by 2025.
At this point, analysts noted that this development has generated excitement within the crypto community and highlighted the expanding use case of $XRP.
Analysts also predict that integration with such a large platform could lead to an expansion of $XRP’s use cases and an increase in trading volume.
*This is not investment advice.