Rakuten, a publicly owned company headquartered in Japan, was founded in 1997 and employs approximately 9,920 individuals. The company reported $16.7B in revenue as of 2025. Functioning primarily in software development, Rakuten specializes in providing a variety of consumer and business-focused services. These services encompass e-commerce, e-reading, travel, banking, securities, credit card, e-money, portal and media operations, online marketing, and professional sports.
Social media sentiment surrounding XRP surged 240% over the past month, reaching a two-year high on May 2, 2026, following news of Rakuten Wallet's integration. Japan's Rakuten now enables its 44 million users to convert loyalty points into XRP and spend them at 5 million locations. On May 1, the e-commerce giant's wallet app went live with full XRP integration, allowing users to swap loyalty points for the cryptocurrency and connecting 44 million Rakuten Pay users. This collaboration injected optimism into the cryptocurrency community, though it had not yet led to significant price surges, with experts monitoring specific resistance levels. Earlier on May 1, policymakers in Japan were reviewing a proposal to reduce capital gains rates on digital assets from 55% to 20%, a change that could significantly alter how Japanese consumers hold and spend cryptocurrency, potentially making Rakuten's new XRP feature more attractive.
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