Ripple has officially launched its U.S. dollar-backed stablecoin, RLUSD, in Japan after securing regulatory approval, marking another significant step in the company's global expansion strategy.
The company announced on Wednesday that RLUSD is now available in Japan through a partnership with SBI Holdings and its cryptocurrency subsidiary, SBI VC Trade. The stablecoin will be accessible to both institutional and retail users through the SBI VC Trade platform.
According to Ripple, the partnership aims to improve cross-border payments, tokenization services, and collateral management within Japan's financial ecosystem. The company believes RLUSD can help connect Japanese businesses and consumers to global financial markets more efficiently.
Jack McDonald, Ripple's Senior Vice President of Stablecoins, said the collaboration with SBI Group will allow RLUSD to serve as a bridge for payments and digital asset applications while improving access to international liquidity.
The launch follows regulatory approval from Japan's Financial Services Agency (FSA), which classified RLUSD as a new category of electronic payment instrument under Japan's Payment Services Act. The approval represents an important milestone for Ripple as Japan maintains one of the world's most comprehensive regulatory frameworks for digital assets and stablecoins.
RLUSD, which was introduced in 2024, is fully backed on a one-to-one basis by reserves that include U.S. dollar deposits, short-term U.S. government securities, and other cash equivalents. This reserve structure is designed to maintain the stablecoin's value and provide confidence to users.
According to market data, RLUSD currently has a market capitalization of approximately $1.6 billion and records daily trading volumes of more than $116 million, highlighting growing adoption of the digital asset.
Japan's stablecoin market has been expanding rapidly in recent months as regulators and financial institutions increasingly embrace digital payment technologies. Earlier this week, SBI Group also launched Japan's first trust bank-backed yen stablecoin, JPYSC, in partnership with Singapore-based fintech company Startale Group.
Meanwhile, Japan's three largest banking groups — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, and Mizuho Financial Group — have announced plans to begin commercial transactions using a jointly issued stablecoin before the end of the fiscal year ending March 2027.
Ripple's entry into the Japanese market comes at a time when financial institutions worldwide are exploring stablecoins for cross-border payments, settlement services, and digital asset applications. The launch of RLUSD in Japan further strengthens the country's position as one of Asia's leading markets for regulated digital assets and blockchain-based financial services.
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