Rakuten Expands Crypto Trading Options with XRP Partnership

Rakuten, a leading Japanese conglomerate, has announced plans to allow customers to exchange their loyalty points for XRP, marking another significant move by major Japanese firms into the cryptocurrency market.

The move is seen as a signal that regulators do not view XRP as problematic, with industry experts noting that Japan's regulatory environment favors established and reputable cryptocurrencies.

This development comes amid growing interest in digital assets among Japanese big tech firms, including Mitsubishi and bitFlyer. Rakuten's online marketplace operations have cornered around a quarter of the nation's e-shopping market, and its move into crypto trading is seen as a bid to stay competitive.