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Ripple is expanding its stablecoin ambitions to Japan, partnering with SBI Holdings to launch RLUSD in early 2026. The move leverages Japan’s newly implemented stablecoin regulations, positioning Ripple to tap into one of Asia’s most tightly regulated digital asset markets.
RLUSD to Be Distributed via SBI VC Trade
The launch will see RLUSD distributed through SBI VC Trade, a licensed crypto exchange under the SBI Group. Ripple announced the partnership Thursday, noting that the stablecoin’s entry would improve “reliability and convenience” for Japanese users.
Tomohiko Kondo, CEO of SBI VC Trade, emphasized the initiative’s role in strengthening Japan’s stablecoin ecosystem. RLUSD will enter a market already shaped by strict regulatory oversight but with growing institutional and retail interest.
Japan’s Payment Services Act Opens Stablecoin Market
Japan’s amended Payment Services Act, effective since June 2023, created a structured framework for stablecoin issuance and distribution. The framework restricts issuers to licensed entities such as trust banks and registered fund transfer service providers, making SBI VC Trade’s early licensing pivotal.
The law continues to evolve, with further amendments due in 2026 to adjust reserve requirements and licensing tiers. Analysts say these revisions are making Japan a uniquely stablecoin-friendly jurisdiction compared to global peers.
Competitive Edge in a Regulated Market
According to Presto Research analyst Rick Maeda, Ripple’s RLUSD benefits from “institutional branding and reserve transparency,” features highly valued in Japan’s compliance-focused financial landscape. RLUSD, issued under a New York State trust-company charter, is backed by cash, short-term Treasuries, and cash equivalents, with monthly reserve attestations.
Ripple’s entry follows Circle’s earlier approval to distribute USDC in Japan, marking the first U.S. stablecoin granted regulatory approval in the country. Tether’s USDT, the world’s largest stablecoin, has yet to receive similar authorization.
Also Read: XRP vs RLUSD – How Ripple’s Stablecoin Could Actually Boost XRP Demand
Currently, RLUSD maintains a relatively modest market presence, with about $667 million in circulation and an average daily trading volume of $71 million, according to CoinGecko. Its Japan expansion could provide a significant growth driver, given SBI’s deep institutional and retail footprint.
Ripple and SBI’s RLUSD launch highlights how Japan’s evolving regulatory framework is attracting leading global stablecoin issuers. With its compliance-first model and strong local partner, Ripple may secure an early foothold in one of Asia’s most strategically important digital asset markets.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
