XRP climbs toward $1.38 as Japan's Rakuten integrates token for payments
XRP surged toward $1.38 following news that Japanese e-commerce giant Rakuten has integrated the digital asset into its payment infrastructure. The token climbed approximately 12% in the 24-hour period following the announcement, with trading volumes spiking across major exchanges as investors responded to the development.
Rakuten, Japan's largest online retailer with over 100 million users globally, announced the integration as part of its broader digital payment strategy. The company will enable XRP transactions across its ecosystem, including its marketplace, travel booking services, and financial products. This marks one of the most significant mainstream adoptions of XRP by a major corporation outside the traditional banking sector, particularly notable given Rakuten's extensive reach in Asian markets.
The integration signals growing institutional confidence in XRP's utility for cross-border payments and e-commerce transactions. Analysts note that Rakuten's decision could encourage other major retailers to explore XRP integration, potentially expanding the token's use cases beyond its traditional focus on banking partnerships. The move also comes as regulatory clarity around XRP continues to improve in key markets.
Market participants will be watching for additional details on the rollout timeline and whether other Rakuten subsidiaries, including its banking and securities divisions, will follow with similar integrations. The company's quarterly earnings call next month may provide further insights into the strategic rationale behind the XRP adoption.
Source: CoinDesk
