web3: Rakuten Integrates XRP into Its Points and Payment Ecosystem

CoinWorld reports:

Japan's Rakuten has integrated XRP into its own points and payment system, expanding the use of this cryptocurrency in everyday consumption scenarios. Through Rakuten Wallet, users can first purchase XRP using Rakuten points, then convert XRP into Rakuten Cash for use in supported Rakuten services.

Connecting Points to Consumption

The integration path is quite clear: Rakuten points can be exchanged for XRP, which can then be converted into Rakuten Cash for use in services like Rakuten Pay and Rakuten Marketplace. Compared to merely holding or trading XRP on a platform, this arrangement places the cryptocurrency into an existing consumption network.

For users, the change means they no longer have to turn to unfamiliar external platforms to complete top-ups, trades, and withdrawals. Users who have already accumulated points within the Rakuten ecosystem now have an additional pathway to transition from reward points into cryptocurrency and back to consumption payments.

Opening Access to Over 100 Million Users

The article states that Rakuten has over 100 million users in Japan. This does not mean that all users will immediately buy XRP, but it does place XRP in front of a consumer entry point with a large existing user base.

The significance of this lies in the fact that the use cases for XRP are no longer limited to trading and investment. If users are willing to try, XRP can serve as a transitional tool between points redemption, balance conversion, and everyday payments. For the cryptocurrency industry, such integrations are closer to real consumption testing rather than simply adding a new trading pair.

XRP and Stablecoins Have Different Roles

Masuda, a senior analyst at Rakuten Wallet, mentioned that XRP's liquidity and its long-term positioning around value transfer may give it a certain role in cross-market fund transfers and remittance scenarios.

The article also notes that the functions of stablecoins and XRP may not overlap. Stablecoins are more akin to fiat currency mappings on the blockchain, suitable for stable pricing; whereas XRP may take on more liquidity and value transfer functions. With the development of tokenized assets, RWA, and security tokens, different digital assets may be used in the same financial infrastructure with distinct roles.

If this model gains more user adoption in Japan, XRP's role may extend from a trading asset to a tool for connecting consumption payments. For Rakuten, this also means a further enhancement of the linkage between its points, wallet, and payment products.