Rakuten Integrates XRP Payment Option for 44 Million Users in Japan
Rakuten to allow XRP to be used as payment method by its 44 million customers
Coindesk
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Rakuten, a major Japanese e-commerce platform, is set to allow its 44 million customers to use XRP as a payment method starting April 15. Users can buy XRP with Rakuten Points and use it at over 5 million merchant locations across Japan, marking a significant step towards digital asset adoption.
- 01Rakuten will enable XRP payments for its 44 million users starting April 15.
- 02Users can buy XRP using Rakuten Points and trade it via the Rakuten Pay app.
- 03XRP can be spent at over 5 million merchant locations in Japan.
- 04This integration follows Rakuten's previous support for other cryptocurrencies like bitcoin and ether.
- 05The move is seen as a significant milestone for digital asset adoption in Japan.
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Rakuten, one of Japan's leading e-commerce platforms, will allow its 44 million users to utilize XRP, a cryptocurrency developed by Ripple, as a payment method starting April 15. Users will be able to buy XRP using Rakuten Points and hold it in their Rakuten Wallet, integrating it into one of Japan's largest loyalty systems. With over 3 trillion Rakuten Points in circulation, worth approximately $23 billion, customers can now convert these points into XRP and use it at more than 5 million merchant locations across Japan. Tatsuya Kohrogi, Ripple's senior ecosystem growth manager, described this development as a significant milestone for the adoption of digital assets in the country. Rakuten has previously supported other cryptocurrencies, including bitcoin and ether, and this latest move further solidifies its position in the digital currency space.
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This integration allows users to leverage their loyalty points for cryptocurrency transactions, potentially increasing the adoption of digital assets in everyday purchases.
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