Rakuten Point Conversion Introduced…XRP Demand Expected to Increase

▲ Source: RippleX X

XRP (Ripple) is fueling expectations of a large-scale influx of real-world usage demand following its integration with Rakuten, Japan's largest retail platform.

According to cryptocurrency media outlet Bitcoinist on May 1 (local time), Japan's Rakuten officially introduced a feature allowing its points to be converted to XRP, fully incorporating XRP into its payment and rewards ecosystem. Users can convert Rakuten points to XRP and then trade them within the app or use them for actual payments at over 5 million affiliated stores via Rakuten Pay.

This feature is noteworthy because it goes beyond simply expanding cryptocurrency services; it directly draws existing ordinary consumers into the cryptocurrency market. The Rakuten ecosystem has accumulated approximately 3 trillion points, equivalent to about 23 billion USD in rewards, and 44 million Rakuten Pay users are considered potential users of this new feature.

Market reaction has also been swift. Social sentiment indicators related to XRP in Japan rose to their second-highest level in the past two years following this announcement. However, experts believe that sustained user participation is a more crucial variable than short-term price increases.

Meanwhile, the Japanese government is also reviewing reforms to its cryptocurrency taxation system. Discussions are underway to lower the capital gains tax on digital assets, currently up to 55%, to around 20%. This is considered a significant factor that could greatly change investor perception regarding the holding and use of cryptocurrencies, including XRP.

Ripple has been expanding its presence in the Japanese market since beginning its collaboration with SBI Group in 2016, and is also pursuing the introduction of the RLUSD stablecoin in the future. Currently, XRP is trading at approximately $1.36, having risen by about 3.25% over the past month.

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