Rakuten Pay Integrates XRP, Connecting $23 Billion Loyalty Points System to Cryptocurrency
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Summary
BroadChain learned that, at 18:30 on April 17, according to NewsBTC, Japan’s largest loyalty program, Rakuten, has integrated its approximately $23 billion worth of over 3 trillion accumulated loyalty points with XRP—enabling users to directly exchange points for XRP within Rakuten Pay and Rakuten Wallet. This move transforms a widely adopted existing rewards system into a direct, exchange-account-free entry point to digital currency—not merely adding another cryptocurrency option. Following the announcement, XRP’s price rose to $1.38, pushing its market cap above $84 billion, with a 24-hour trading volume reaching $2.4 billion.
BroadChain has learned that as of 18:30 on April 17, according to NewsBTC, Japan's largest loyalty program, Rakuten, has integrated its accumulated points—valued at approximately $23 billion and totaling over 3 trillion points—with XRP. Users can now directly exchange points for XRP through Rakuten Pay and Rakuten Wallet. This move effectively transforms a widely adopted rewards system into a direct, no-exchange-account gateway to digital currency—far more than just adding another crypto option.
Following the announcement, XRP’s price climbed to $1.38, lifting its market cap above $84 billion, while 24-hour trading volume reached $2.4 billion (a 25% drop from previous levels). Rakuten’s network spans roughly 44 million users and over 5 million merchant locations. Users can hold XRP in their wallets, purchase XRP with points, top up Rakuten Cash for in-store and online spending, and even execute spot XRP trades directly within the app.
Rakuten had previously integrated Bitcoin, Ether, and Bitcoin Cash; XRP now joins one of Japan’s largest consumer platforms. Tatsuya Kohrogi, Ripple’s Senior Ecosystem Growth Manager, described this as one of XRP’s most significant milestones, emphasizing that Rakuten Pay is a mainstream commercial platform—not a product built solely for crypto users.
Analysts point out that this marks XRP’s substantive expansion from institutional cross-border payments into Japanese retail point-of-sale (POS) consumption. The key question remains whether everyday consumers will opt for XRP over established, trusted payment methods like JPY. If even a small portion of the $23 billion in points flows into XRP and circulates in daily commerce, it could encourage other major consumer platforms to follow suit.