|
Getting your Trinity Audio player ready...
|
- Rakuten Wallet’s XRP listing links crypto trading with a broader payments ecosystem and potential corporate settlement use.
- Ripple’s Jeonbuk Bank partnership targets faster cross-border transfers, but XRP use has not been confirmed.
- Business payments could become the bigger market, as financial institutions explore blockchain for recurring international settlement needs.
The crypto payments market is moving beyond the question of whether digital assets can transfer value quickly. The bigger challenge is making those transfers practical for businesses, consumers and financial institutions. Recent moves by Rakuten Wallet in Japan and Ripple in South Korea highlight two different approaches to that problem, while also underscoring the limits that remain around XRP adoption.
Rakuten Wallet Targets Speed and Stability
Rakuten Wallet’s decision to add XRP spot trading is tied to a broader payments strategy, according to senior analyst Yasuo Matsuda. He argues that crypto payments have historically faced two major obstacles: slow transaction processing and volatile asset prices.
Stablecoins can address the volatility issue by maintaining relatively stable values, while XRP is positioned as a faster settlement asset. Matsuda’s broader argument is that combining those strengths could make blockchain-based payments more useful for everyday financial activity.
Rakuten is also connecting XRP with its wider consumer ecosystem. Users can convert XRP into Rakuten Cash, which can be spent across Rakuten’s retail network and marketplace. The ability to purchase XRP using Rakuten Points could also give newcomers a lower-risk way to experiment with crypto.
Businesses May Be the Bigger Opportunity
Despite the consumer-facing features, corporate payments appear to be a more important part of the strategy.
Matsuda highlighted potential applications including internal company transfers, employee-related cross-border expenses and business-to-business payments involving Japanese accounts. These transactions occur repeatedly, potentially creating a larger and more sustainable market than occasional retail crypto purchases.
Liquidity is another part of the argument for XRP. Matsuda pointed to the asset’s large market capitalization as evidence that it may have enough market depth to support meaningful remittance and settlement activity.
Still, liquidity alone does not guarantee widespread adoption. Businesses must also consider regulation, costs, integration requirements and counterparty risks before replacing established payment systems.
Ripple Expands Its Banking Footprint in South Korea
Ripple is pursuing a more institutional route through its partnership with South Korean regional lender Jeonbuk Bank. The bank plans to use Ripple Payments to modernize international transfers, with businesses such as exporters, technology companies and digital content firms among the potential beneficiaries.
The platform is designed to enable faster, around-the-clock settlement compared with traditional cross-border systems that can take significantly longer.
However, the partnership does not confirm that XRP will be used for these transfers. The companies have not disclosed whether transactions will rely on XRP, Ripple’s RLUSD stablecoin or fiat-based settlement. Details on fees, launch timing and supported corridors also remain unclear.
Rakuten Wallet and Jeonbuk Bank illustrate how crypto infrastructure is increasingly being tested through existing financial and commercial networks. The key question is no longer simply whether blockchain can move money, but whether it can do so faster, cheaper and more reliably than established alternatives.
For XRP, Rakuten’s approach offers a potential consumer and corporate use case, while Ripple’s Korean banking expansion shows how blockchain payment infrastructure can enter traditional finance without necessarily requiring XRP in every transaction.
Also Read: SBI Holdings Buys Coinhako: 5 Reasons This Ripple-Linked Deal Could Transform Asian Crypto
The next phase will depend on actual transaction volumes, regulatory clarity and whether businesses find these systems valuable enough to use at scale.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
