Rakuten Adds XRP To Payments Stack, But Users Won't Actually Hold It

Markets 2026-04-15 00:35

Rakuten Adds XRP To Payments Stack, But Users Won't Actually Hold It

Rakuten lists Ripple (XRP) on its wallet platform Apr. 15, integrating the token into a payments ecosystem that serves 44 million users across Japan.

Rakuten XRP Integration Details

Japan's largest e-commerce company added XRP to Rakuten Wallet for spot trading alongside Stellar (XLM), Dogecoin (DOGE), Shiba Inu (SHIB) and Toncoin (TON).

The integration connects to Rakuten Pay, allowing users to convert Rakuten Points into XRP through the FSA-licensed exchange, then load the balance into Rakuten Cash for spending at over 5 million merchant locations.

The mechanism works as a bridge. Users never hold XRP directly at point of sale, and merchants receive yen, not crypto. More than 3 trillion Rakuten Points, valued at roughly $23 billion, are eligible for conversion, but the demand pool remains locked within the company's loyalty ecosystem.

Rakuten Wallet operates under FSA licensing and JVCEA membership, following a regulatory path already cleared by SBI Holdings.

Also Read: Polymarket Investigates Startups Accused Of Enabling Insider Copy-Trading

XRP Adoption Debate

The headline figure of 44 million users slightly overstates the practical effect. Most transactions route through XRP infrastructure invisibly, converting points to yen in the background without requiring users to interact with crypto directly.

This is a payments feature update built on blockchain rails, not a case of tens of millions of consumers choosing to buy and hold XRP.

Rakuten's broader ecosystem covers over 100 million member IDs, and the company issued approximately 620 billion points in 2022 alone. A planned Rakuten Bank fintech integration, flagged at the company's Mar. 27 annual meeting, could open seamless fiat-to-XRP conversion across 17 million banking accounts by Q3 2026.

Market Context

XRP has faced significant derivatives pressure in recent weeks. Perpetual open interest dropped 71% from 7 billion to 2 billion tokens, while Binance trading volume fell to its lowest level since 2025. Separately, analyst Ali Martinez has identified a nine-year ascending triangle pattern in XRP's chart, pointing to $0.75-$0.80 as a potential support zone before any larger move.

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This content is for informational purposes only and does not constitute investment advice.

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