Rakuten lets 44M convert points to XRP, spend at 5M merchants

Rakuten lets 44M users convert $23B in points to XRP, spendable at 5M merchants

Rakuten switched on points-to-crypto inside Rakuten Pay and Rakuten Wallet. Users can convert loyalty points into XRP and spend via Rakuten’s network. Source.

Rakuten holds over 3 trillion points, valued near $23 billion. This is a direct retail on‑ramp, no exchange account needed. Details.

The rollout covers 44 million users and 5 million merchant locations in Japan. Users can hold XRP, convert points, fund Rakuten Cash, and pay in stores and online. Spot trading is live in‑app. Source | Confirmation.

Price reacted. XRP touched $1.38, market cap topped $84B, 24h volume hit $2.4B, down 25% vs the prior period. Source.

Rakuten previously added Bitcoin, Ether, and Bitcoin Cash. Source.

“One of the most significant milestones,” said Ripple’s Tatsuya Kohrogi, noting Rakuten Pay is a mainstream shopping app. Interview.

Adoption is the hinge. Rakuten’s infrastructure is ready; the question is whether shoppers choose XRP at checkout or stick with yen and existing rails. Rakuten Payments | Analysis.

If even a fraction of the $23B in points flows into XRP and circulates in everyday spend, similar platforms may follow. Report.