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.
