Rakuten to allow XRP to be used as payment method by its 44 million customers

Japan’s e-commerce giant Rakuten is adding $XRP to its Rakuten Pay app, allowing its 44 million users to use Ripple’s cryptocurrency as a payment method with more than 5 million merchant locations across the country.

In an announcement via X on Tuesday, Tatsuya Kohrogi, Ripple’s senior ecosystem growth manager, said Rakuten is also enabling its users to spot trade $XRP via the app. He said they will also be able to purchase $XRP with Rakuten points and hold it in their Rakuten Wallet.

The move ties $XRP into one of Japan’s largest loyalty systems, where more than 3 trillion points—worth roughly $23 billion—are in circulation and can now be converted into $XRP, Kohrogi said.

“Starting April 15, Rakuten Wallet will launch $XRP as both a listed asset and a payment method, meaning users can buy $XRP directly with Rakuten Points and charge their Rakuten Cash with $XRP to spend it at over 5 million merchant locations across Japan,” Kohrogi said, calling the development “one of the most significant $XRP milestones.”

The Ripple executive also said Rakuten is one of Japan's most trusted consumer brands. “The fact that $XRP is now embedded into its loyalty and payments infrastructure is a powerful signal of where digital asset adoption is heading,” he added.

Rakuten began allowing users to spend bitcoin, ether and bitcoin cash in 2023. In 2021, the Japanese e-commerce giant announced the launch of its own Rakuten Coin, a token it said would be used as part of its points-based loyalty rewards system.