"XRP converts into Rakuten Cash, which then converts into yen - so the merchant receives yen like any other Rakuten Pay transaction. For the user, it feels like spending crypto, and the merchant receives cash, so nothing changes."
"Over 3 trillion Rakuten Points are in circulation right now, worth roughly $23 billion, and as of April 15 those points can be converted directly into XRP."
"Even a small percentage finding its way into XRP would create buying pressure that no exchange listing or ETF launch has come close to generating."
"Rakuten is also running a promo campaign offering up to ¥100,000 (about $630) in XRP rewards for qualifying purchases through May 15, which should drive early adoption."
XRP can now be accessed by 44 million active Rakuten users, leveraging a loyalty ecosystem valued at approximately $23 billion. Users convert XRP into Rakuten Cash, which is then exchanged for yen, allowing merchants to receive yen as usual. Rakuten's extensive services and loyalty points program, with over 3 trillion points in circulation, provide a unique opportunity for XRP adoption. A promotional campaign incentivizes early adoption, and a planned fintech integration may enable seamless fiat-to-XRP conversion for banking customers by 2026.
Read at 24/7 Wall St.
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