Japan’s leading e-commerce giant Rakuten announced it has added Ripple’s cryptocurrency XRP as a payment option to its mobile wallet, Rakuten Pay. With this move, the app’s 44 million users can now use XRP to make purchases across more than 5 million businesses nationwide.
Rakuten loyalty points conversion broadens crypto reach
Rakuten operates one of Japan’s most extensive loyalty programs, with 3 trillion points—equivalent to around $23 billion—in circulation. Thanks to the new update, users can convert their Rakuten loyalty points into XRP, choosing to store them as cryptocurrency or spend them directly wherever Rakuten Pay is accepted.
According to Rakuten’s statement, starting April 15, XRP will be listed as a supported asset and payment method within the Rakuten Wallet app. On that date, users will be able to buy XRP using their loyalty points and transfer their XRP holdings to Rakuten Cash for in-store payments across Japan.
New opportunities for payment and trading in xrp
Another key feature highlighted in Rakuten’s announcement is the option to buy and sell XRP directly through its app. Not only can users trade XRP, but they can also store their tokens safely in Rakuten Wallet, allowing both seamless payments and investment functionalities within the same ecosystem.
Tatsuya Kohrogi, a senior executive in charge of ecosystem growth at Ripple, described this development as a pivotal moment for XRP. Kohrogi emphasized that integrating XRP into Rakuten’s widespread loyalty and payment infrastructure signals a broader acceptance of digital assets in everyday life in Japan.
Integrating XRP into Rakuten’s loyalty and payment systems stands as a significant indicator of the growing adoption of digital assets, Tatsuya Kohrogi stated.
Rakuten’s crypto innovation builds on recent expansion
Rakuten has made major strides in the digital asset space in recent years. The company enabled bitcoin, ether, and bitcoin cash payments via its apps in 2023, while its proprietary digital token, Rakuten Coin, was launched in 2021 as part of its loyalty-based rewards program.
With this latest step, Rakuten further expands digital asset use cases in Japan, empowering both investors and everyday shoppers to manage crypto transactions and routine purchases within a single application.
The move is expected to accelerate the use of cryptocurrencies for routine spending across Japan’s consumer landscape, potentially setting a trend for other major payment platforms in the region.
Industry watchers point out that integrating a well-established loyalty system with a mainstream cryptocurrency could bridge the gap between traditional finance and digital assets, making crypto more accessible for the average user.
Rakuten’s strong network and sizable user base position it as a powerful catalyst within Japan’s digital payment evolution.
As regulatory clarity improves and public interest grows, Rakuten’s approach may encourage more firms to connect their point-based customer engagement tools to the crypto universe.
