Ripple and Japanese financial giant SBI have officially rolled out the RLUSD stablecoin across Japan, following approval from the country's Financial Services Agency (FSA). Institutional and retail users can now access the dollar-backed asset through SBI VC Trade's VCTRADE platform.
Regulatory Green Light Under Japan's Stablecoin Framework
The FSA approved RLUSD under Japan's Payment Services Act, classifying it as a foreign-issued electronic payment instrument. Ripple framed the approval as a sign of Japan's commitment to compliant digital assets. Jack McDonald, Ripple's Senior Vice President of Stablecoins, stated that Japan remains a leading digital asset market and that RLUSD will give businesses and consumers broader access to transparent, dollar-backed digital payments.
McDonald added that RLUSD will support cross-border payments, tokenization, and collateral management, with the SBI partnership connecting Japanese businesses to global liquidity networks. SBI VC Trade CEO Tomohiko Kondo called the launch a milestone in the companies' shared vision for on-chain finance, pledging to expand services built around RLUSD.
A Decade-Long Partnership Bears Fruit
Ripple and SBI have worked together since 2016 on blockchain infrastructure and digital asset services across Japan and the Asia-Pacific region. Their joint initiatives have focused on enterprise blockchain adoption and cross-border payment solutions. RLUSD marks the latest product stemming from this collaboration.
RLUSD Market Cap and Asia Strategy
Launched in late 2024, RLUSD is a U.S. dollar-backed stablecoin designed for enterprise finance. Its market capitalization has grown to approximately $1.7 billion, reflecting rising demand for regulated assets. Beyond faster settlement, RLUSD enables cross-border liquidity, tokenization, and collateral management. Ripple is also exploring programmable trade settlements and supply chain finance. The Japan launch deepens Ripple's presence in Asia through one of the region's most established financial services groups.