Blockchain payment company Ripple announced that it has reached a partnership with Japanese financial giant SBI Holdings, aiming to launch the dollar stablecoin Ripple USD (RLUSD) in Japan as early as Q1 2026.
Ripple stated in a press release that both parties have signed a Memorandum of Understanding (MoU), confirming that SBI VC Trade will act as the distributor of RLUSD in Japan. The latter is a subsidiary of the SBI Group specializing in cryptocurrency trading and is registered as an 'electronic payment method transaction operator'.
On June 1, 2023, Japan officially implemented the revised (Funds Settlement Act (Payment Services Act)), defining stablecoins as a new 'electronic settlement method', lifting the ban on the circulation of foreign stablecoins in Japan, while stipulating that any business involved in the circulation and trading of stablecoins (fiat-backed electronic payment methods) must obtain the relevant licenses issued by the government.
RLUSD is Ripple's first stablecoin, which has drawn significant market attention since its launch in December 2024. RLUSD is fully backed by dollar deposits, short-term U.S. Treasury bonds, and highly liquid assets, with monthly asset verification reports issued by a third-party accounting firm.
SBI VC Trade CEO Tomohiro Kondo stated: 'Introducing RLUSD will not only expand the landscape of stablecoins in Japan but is also an important step in proving the reliability and convenience of stablecoins.'
Jack McDonald, Senior Vice President of Ripple's stablecoin division, also pointed out that the design goal of RLUSD is to become a true standard in the industry, providing a reliable and efficient bridge between traditional finance and decentralized finance (DeFi).
According to data from CoinGecko, as of the time of writing, RLUSD has a market capitalization of $666 million, with a trading volume of $72.84 million in the past 24 hours.
"Ripple and SBI reach cooperation: The stablecoin RLUSD will enter Japan as early as Q1 next year" was first published on (Blockke).
