Rakuten Wallet Taps XRP for Cross-Border Settlement Ambitions

Rakuten Wallet has launched XRP spot trading, and its senior analyst Yasuo Matsuda believes this move is not just about adding a new trading product but about implementing crypto payments that address both price stability and transfer speed.

Matsuda breaks down the issues into two parts: insufficient processing speed and excessive asset price volatility. He notes that stablecoins have addressed the price volatility issue, while XRP's design goal is geared towards fast transfers.

Rakuten Wallet allows users to purchase XRP through Rakuten Wallet and convert it into Rakuten Cash for use within the Rakuten ecosystem. This design helps lower the psychological barrier for ordinary users when accessing crypto assets.

Matsuda believes that this launch is not focused on retail consumption but rather on corporate fund allocation and cross-border payments, including internal group settlements, cross-border transfers related to employee expenses, and B2B payments processed through Japanese accounts.