In a significant development for cryptocurrency adoption in Japan, Rakuten Group has announced that it will integrate Ripple's native token, XRP, as an official payment option starting April 15. This move is set to enhance the shopping experience for millions of users in the country, and the publication demonstrates positive momentum in the developments.
Integration of XRP into Rakuten Pay
With this integration, Rakuten's 44 million users will be able to utilize XRP for purchases through the Rakuten Pay app. Users can easily load their XRP into the app and spend it at approximately 5 million registered merchants across Japan, marking a substantial expansion of cryptocurrency use in everyday transactions.
Features of Rakuten Wallet
Moreover, the Rakuten Wallet will allow users to spot trade their XRP and securely store their holdings. This feature not only facilitates transactions but also encourages users to engage more actively with the cryptocurrency market.
Loyalty Program and XRP Conversion
In addition to these features, Rakuten's extensive loyalty program will enable users to convert their loyalty points into XRP. The program boasts over 3 trillion points valued at nearly 23 billion yen. This innovative approach further underscores Rakuten's commitment to integrating cryptocurrency into its ecosystem and reflects a growing confidence in XRP as a viable payment method in Japan.
In a related development, Evernorth has partnered with XRPL developers to introduce a new native XRP lending feature, potentially unlocking significant liquidity for XRP holders. For more details, see XRP lending.
