Ripple and SBI Introduce $RLUSD Launch Across Japan
Ripple and SBI Holdings, a major Japanese financial services conglomerate, announced on June 24 the launch of Ripple USD ($RLUSD) in Japan after approval from the Japan Financial Services Agency (FSA). The rollout gives institutions and retail users access to the U.S. dollar-backed stablecoin through SBI’s VCTRADE crypto exchange platform.
Regulators categorized $RLUSD as an electronic payment instrument under Japan’s Payment Services Act. The designation applies to foreign-issued stablecoins that meet safety and regulatory standards required under Japanese law.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, said:
“This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like $RLUSD for financial institutions, consumers and businesses in Japan.”
SBI VC Trade operates as a licensed Electronic Payment Instruments Exchange Service Provider, along with registrations as a Crypto Asset Exchange Service Provider and Type 1 Financial Instruments Service Provider, which allows it to handle a broad range of financial products including securities and derivatives under Japan’s regulatory framework. The platform will distribute $RLUSD to both institutional and retail customers across Japan.
Longstanding Partnership Expands With Regulated Stablecoin Rollout
Collaboration between Ripple and SBI Group entered a new phase after the companies outlined the initiative in an August 2025 memorandum of understanding. Their relationship dates to 2016 and has centered on blockchain infrastructure, cross-border payments, and digital asset adoption across Japan and the Asia-Pacific region.
$RLUSD is an enterprise-grade stablecoin backed by U.S. dollars and designed around compliance, liquidity, and transparency. Since its launch in late 2024, the token has grown to a market capitalization of $1.7 billion while supporting settlement, cross-border liquidity, and other enterprise payment applications.
McDonald added:
“Through our collaboration with SBI Group, $RLUSD will serve as a bridge for payments, tokenization and collateral management, connecting Japanese businesses and individuals more efficiently to global liquidity. Together, we’re helping advance regulated stablecoin adoption across Asia.”
SBI VC Trade Chief Executive Officer Tomohiko Kondo described $RLUSD’s introduction as a major milestone in the companies’ partnership. He said SBI VC Trade plans to expand $RLUSD-based services and develop additional use cases, while the company continues broadening its digital asset offerings.