Hassan Maishera
TL;DR
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Ripple said its RLUSD stablecoin is now available in Japan after receiving regulatory approval.
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This comes shortly after Ripple secured preliminary MiCA approval in Luxembourg for a CASP license,
RLUSD Debuts Through Partnership With SBI Holdings
Ripple has officially launched its Ripple USD (RLUSD) stablecoin in Japan, marking a significant step in the company's international expansion strategy.
In a statement released on Wednesday, Ripple announced that RLUSD is now available in Japan through a partnership with SBI Holdings and its cryptocurrency subsidiary, SBI VC Trade. The U.S. dollar-pegged stablecoin will be accessible to both retail and institutional users through the SBI VC Trade platform.
The launch strengthens Ripple’s presence in one of Asia’s most regulated and technologically advanced digital asset markets.
Ripple said the collaboration with SBI Group is intended to support a range of financial applications, including cross-border payments, tokenization, and collateral management.
“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,” said Jack McDonald, Ripple’s Senior Vice President of Stablecoins.
The company believes the stablecoin can help improve access to global financial markets while streamlining transactions for businesses and consumers.
Japan Grants Regulatory Approval for RLUSD
The launch follows regulatory approval from Japan’s Financial Services Agency (FSA), one of the world's most influential financial regulators.
According to Ripple, the approval classifies RLUSD as a new type of electronic payment instrument under Japan’s Payment Services Act. The designation provides a regulatory framework for the stablecoin’s use and distribution within the country.
The approval represents another milestone in Ripple’s efforts to expand RLUSD into regulated markets around the world.
Ripple introduced RLUSD in 2024 as a fully backed U.S. dollar stablecoin. The company states that each RLUSD token is backed on a one-to-one basis by reserves that include U.S. dollar deposits, short-term U.S. government securities, and other cash-equivalent assets.
According to CoinGecko data, RLUSD currently has a market capitalization of approximately $1.6 billion and a 24-hour trading volume of $116.7 million, highlighting growing adoption since its launch.
Ripple’s entry into Japan comes amid increasing momentum for stablecoin development in the country.
Earlier on Wednesday, SBI Group launched JPYSC, Japan’s first trust bank-backed yen stablecoin, in partnership with Singapore-based fintech firm Startale Group. The launch underscores growing interest in regulated digital currencies among Japanese financial institutions.
Meanwhile, Japan’s three largest banking groups—MUFG, SMBC, and Mizuho—have announced plans to begin live commercial transactions using a jointly issued stablecoin before the end of the fiscal year ending March 2027.
The approval comes less than 48 hours after Ripple secured preliminary MiCA approval in Luxembourg for a CASP license, paving the way for regulated crypto services across the EU and expanding its stablecoin payments infrastructure.
