Rakuten Wallet has introduced XRP functionality, allowing users in Japan to convert loyalty points into XRP and use it for payments. This integration connects XRP to a major consumer ecosystem, combining trading and spending. Users can exchange Rakuten Points for XRP, trade in-app, and fund Rakuten Cash for purchases through Rakuten Pay at millions of locations. The initiative leverages Rakuten Pay's 44 million users and over 3 trillion loyalty points, valued at approximately $23 billion, enhancing XRP's utility in everyday transactions.
"With 44 million Rakuten Pay users and $23B in loyalty points now redeemable for XRP, this is one of the largest retail deployments of XRP as a payment method to date."
"The integration combines loyalty rewards, trading, and payments within Rakuten's existing infrastructure, allowing users to execute spot trades in-app and fund Rakuten Cash balances."
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