Binance allocated $800,000 in XRP rewards to RLUSD holders in expired campaign

Key Facts

Binance allocated $800,000 in XRP rewards to eligible RLUSD holders in a campaign that ran from July 17 to August 14, 2026, according to the exchange's announcement. The campaign began and ended at midnight UTC on the specified dates, meaning the participation period has expired. The rewards targeted RLUSD holdings subject to balance and trading requirements, while XRP was the currency used for payouts. The announcement stipulated weekly reward distributions to participants meeting the eligibility requirements during the campaign. Binance listed Japan among the countries and regions excluded from participation, despite Rakuten-related news concerning cryptocurrency use in the Japanese market.

The effective annual reward rate for the first distribution was 22.25%, according to figures in Binance's campaign announcement. For the final distribution, the rate was 7.69%, down from the level associated with the start of distributions. The exchange said the annual reward rate could change weekly, tying distribution rates to their respective periods. In the qualification accompanying these rates, Binance said that "each annual rate is not indicative of future results." The higher rate therefore related to rewards from a previous distribution for eligible RLUSD holdings and was neither a fixed return on holding XRP nor a promise of future returns.

Binance required participants to hold at least 0.01 RLUSD in Earn or margin accounts to participate in the campaign. The holding requirement was paired with eligible average daily trading volume of at least $500, under the exchange's terms. Eligible trading included margin or futures transactions, making eligibility dependent on both the token balance and trading activity. Binance calculated the balance used to determine eligibility on a net-asset basis after deducting liabilities. Liabilities were therefore subtracted from assets when determining the eligible RLUSD balance, alongside the application of trading requirements and geographic exclusions to participants.

Separately, Rakuten Wallet announced in April that it was adding XRP as part of a group of 5 cryptocurrencies to its spot trading service. The group also included Dogecoin, Stellar Lumens, Shiba Inu and Toncoin, according to the company's statement on expanding the available assets. The addition allowed customers to exchange Rakuten Points for the included assets, while also making them available through the wallet's trading service. The company attributed its selection of these assets to "strong demand domestically and internationally and numerous customer requests," according to its statement. The Japanese announcement preceded Binance's summer campaign, as part of an expansion of Rakuten's services related to trading, points and the use of assets for spending.

Using cryptocurrencies at stores involves topping up the Rakuten Cash electronic money balance and then spending through the Rakuten Pay app, according to the company's explanation. This mechanism places an electronic money balance between the cryptocurrency and the in-store payment, rather than paying the merchant directly in XRP. The service for topping up Rakuten Cash with cryptocurrencies began on February 24, 2021, according to Rakuten Group's launch announcement. The supported assets at the time were Bitcoin, Ethereum and Bitcoin Cash, before the subsequent expansion of the assets available through the wallet. The listing of the new assets thus built on a top-up and payment infrastructure that preceded the April announcement, using the payment app to reach stores.

As for RLUSD, Ripple announced its launch in Japan on June 24, 2026, after receiving approval from the Japanese regulator. The launch made the token accessible to institutions and individuals through SBI VC Trade, according to Ripple's statement. The company said the token was fully backed by high-quality reserves, including U.S. dollar-denominated deposits. The reserves also include short-term U.S. government bonds and other cash equivalents, according to the company's description of the backing assets. The token's entry into the Japanese market preceded the start of Binance's rewards campaign in July, while Japan remained excluded from eligibility to participate in that campaign.