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▲ Rakuten, XRP/AI generated image
Rakuten, Japan's largest e-commerce platform, has integrated XRP into its payment ecosystem, which serves 44 million users, accelerating the real-world adoption of XRP.
According to crypto media outlet The Crypto Basic on April 14 (local time), Rakuten plans to add XRP to its cryptocurrency service, Rakuten Wallet, starting April 15, supporting both spot trading and payment usage. This move will enable XRP to significantly expand its reach to general consumers through Rakuten's payment network within Japan's strictly regulated market.
Through this revamp, Rakuten Wallet will incorporate XRP as a new trading asset, opening up access to XRP for 44 million Rakuten Pay users. The Crypto Basic reported that Rakuten holds over 100 million member IDs in Japan and has a global user base with more than 70 services in over 30 countries.
A point of significant market interest is the Rakuten Point conversion feature. Rakuten has issued over 3 trillion points to date, with the article estimating their value at approximately $23 billion. Users can directly convert these points into XRP and also use XRP to top up Rakuten Cash, linking it to daily payments.
The scope of real-world use is considerable. There are over 5 million payment locations that accept Rakuten Cash, including large retail stores and convenience stores. The Crypto Basic stated that Rakuten's e-commerce division has an annual gross transaction volume of approximately 5.6 trillion yen, and Rakuten Bank has over 17 million accounts, indicating that shopping, finance, and payments are tied together in a single account system.
To promote early adoption, Rakuten has also prepared an XRP reward campaign. The plan is to attract new users by allowing them to receive up to 100,000 yen worth of XRP through transactions. The Crypto Basic noted that Rakuten supported XRP margin trading in the spring of 2020 and introduced a feature in 2021 to top up Rakuten Cash with Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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