- Rakuten has a market cap of around $11 billion.
- Firm will let customers swap their loyalty points for XRP and other coins.
- Major Japanese firms need crypto to retain competitive edge, expert says.
Big Japanese firms are embracing crypto — particularly high-cap altcoins like XRP — to ensure they stay at the top of the food chain, says an industry insider.
Their comments come after Rakuten, a Japanese conglomerate with a market cap of almost $11 billion, unveiled plans to let e-pay customers spot-trade XRP or buy the Ripple-affiliated coin with their loyalty points. The firm will also let customers spend their XRP in stores via its s e-pay platform.
“Any [Japanese firm] with a large customer base who is at risk of losing it to crypto or…
