Rakuten Wallet has taken a significant step in expanding the use cases for XRP by integrating it into its Rakuten Pay and Rakuten Cash systems. This move is expected to increase the cryptocurrency's adoption rate, particularly among its 44 million users.
According to Dr. Kamilah Stevenson, a crypto commentator, this development represents institutional adoption of XRP's payment utility, which may not immediately impact prices but will contribute to its growth in the long term.
The integration allows Rakuten Wallet users to convert their Rakuten Points into XRP, trade the asset within the app, and charge Rakuten Cash for spending with Rakuten Pay. This move is seen as a significant milestone in expanding the use cases for XRP, particularly in Japan's payments market.