Japanese e-commerce behemoth Rakuten has announced a groundbreaking integration: its flagship payment application, Rakuten Pay, will now fully support Ripple (XRP). This pivotal move, effective immediately, empowers Rakuten’s vast user base of 44 million to seamlessly utilize XRP for transactions at over 5 million participating merchant locations across Japan.
Tatsuya Kohrogi, Senior Manager of Ecosystem Growth at Ripple, revealed on Tuesday that Rakuten’s commitment extends beyond mere payment functionality. The integration also encompasses XRP spot trading, providing users with enhanced flexibility. Furthermore, Rakuten has introduced the innovative ability for users to convert their accumulated “Rakuten Points” directly into XRP, which can then be securely stored within the Rakuten Wallet.
Kohrogi highlighted the monumental scope of this integration, noting that it brings XRP into Japan’s most expansive loyalty point ecosystem. With a staggering 3 trillion Rakuten Points (approximately $23 billion USD) currently in circulation, these points are now fully convertible into XRP. He elaborated:
“As of April 15th, Rakuten Wallet has officially listed XRP as an available asset and a primary payment method. Users can now effortlessly acquire XRP using their Rakuten Points, or alternatively, leverage XRP to top up Rakuten Cash, enabling spending across more than 5 million merchant locations nationwide.”
Underscoring the significance, Tatsuya Kohrogi described this development as “undoubtedly one of the most iconic milestones” in XRP’s journey. He emphasized Rakuten’s stature as a highly reputable national consumer brand in Japan. “When XRP becomes deeply embedded within such a sophisticated loyalty point and payment infrastructure, it undeniably broadcasts a powerful message to the market: the future where digital assets are woven into the fabric of everyday life is no longer a distant vision, but a clear and present reality.”
This latest move builds upon Rakuten’s established history in the digital asset space. In 2023, the e-commerce giant had already enabled users to conduct payments using Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Prior to that, in 2021, Rakuten launched its proprietary token, “Rakuten Coin,” as an integral component of its comprehensive point rewards system.
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